Steel price today November 7: Domestic price remains stable, world price recovers

The domestic steel market kept prices stable due to weak demand, while world iron ore and steel prices recovered slightly after many consecutive sessions of decline.

Domestic steel market maintains stable prices

According to records on November 7, domestic construction steel prices continued to remain stable nationwide, contrary to the slight recovery trend of the world market. The main reason is believed to be due to weak domestic consumption demand, forcing businesses to keep selling prices unchanged to stimulate demand.

Data from SteelOnline.vn shows that the listed prices of major brands in all three regions have not changed:

Trademark	Product	Unit price (VND/kg)
Hoa Phat	CB240 steel coil	13,500
Hoa Phat	D10 CB300 ribbed steel bar	13,090
Vietnamese-Italian	CB240 steel coil	13,640
Vietnamese-Italian	D10 CB300 ribbed steel bar	12,880
Viet Duc	CB240 steel coil	13,350
Viet Duc	D10 CB300 ribbed steel bar	12,850
VAS	CB240 steel coil	13,130 - 13,330
VAS	D10 CB300 ribbed steel bar	12,730 - 12,930

World iron ore and steel prices recover

In the international market, prices of steel products and input materials have ended the long-term decline in previous sessions. Specifically:

• On the Shanghai Futures Exchange (SHFE) : Rebar prices for May 2026 delivery increased by 7 yuan to 3,103 yuan/ton. Hot-rolled coil also increased by 0.22%.
• On the Dalian Commodity Exchange (DCE) : Iron ore futures increased 0.65% to 777.5 yuan/ton (equivalent to 109.15 USD/ton).
• On the Singapore Exchange (SZZFZ5) : Iron ore futures for December delivery rose 0.37% to $103.9 a tonne.

Domestic steel prices remain stable while the world iron ore market shows signs of recovery.

The recovery was partly supported by falling export volumes from major suppliers such as Australia and Brazil, according to Everbright Futures.

Market outlook remains challenging

Despite the recovery, analysts say the rally may not be sustainable as concerns over oversupply and weak demand continue to weigh. Production cuts by some steel mills in China’s Hebei province due to environmental concerns have also weighed on the market.

China's steel capacity control campaign has yet to yield a clear signal, while output remains high during the low demand season, said Atilla Widnell, CEO of Navigate Commodities.

Iron ore inventories at Chinese ports rose 1.53% week-on-week to 135.6 million tonnes at the end of October, according to SteelHome data. However, coking coal and coking coal prices on the DCE rose 2.38% and 2.07%, respectively, providing some support for steel prices. Experts predict the market could stabilize if China announces more economic stimulus packages at the end of the fourth quarter, but oversupply pressure remains the main obstacle in the short term.

Source: https://baolamdong.vn/gia-thep-hom-nay-711-trong-nuoc-di-ngang-the-gioi-phuc-hoi-400918.html