Steel price today 7/5: Domestic price increased slightly

According to an update from SteelOnline.vn at 8:00 a.m., steel prices ranged from 13,380 to 14,200 VND/kg, mainly for CB240 rolled steel products and D10 CB300 rebars.

In the North, steel prices have slightly adjusted between brands. Viet Duc Steel sells CB240 coil steel at VND13,500/kg and D10 CB300 ribbed steel at VND13,800/kg. Hoa Phat Steel lists CB240 at VND13,550/kg and D10 CB300 at VND13,600/kg. Meanwhile, Viet Sing Steel keeps CB240 at VND13,450/kg and D10 CB300 at VND13,650/kg.

In the Central region, prices tend to be higher. Viet Duc Steel is selling CB240 at VND13,800/kg, while D10 CB300 reaches the highest price of VND14,200/kg. Hoa Phat Steel in this region has a slightly lower price with CB240 at VND13,650/kg and D10 CB300 at VND13,750/kg.

In the South, steel prices were more stable with Hoa Phat steel listing CB240 at VND13,550/kg and D10 CB300 at VND13,650/kg. VAS steel had the lowest price in the region with CB240 at VND13,380/kg and D10 CB300 at VND13,480/kg. TungHo steel kept CB240 at VND13,400/kg and D10 CB300 at VND13,750/kg.

On the morning of May 7, 2025, international steel prices recorded a slight increase in China, but the overall picture remains challenging due to weak demand and oversupply pressure.

In the international market, iron ore prices have been on an upward trend on all three major exchanges thanks to new expectations for US-China trade agreements. Specifically, the iron ore contract for September delivery on the Dalian exchange remained at 704.5 yuan/ton (equivalent to 97.58 USD/ton), while the price in Singapore increased by 0.92% to 97.45 USD/ton. On the Shanghai exchange, the price of rebar for December delivery increased by 15 yuan to 3,127 yuan/ton. At the end of the trading session on May 6, iron ore prices continued to increase slightly to 764.5 yuan/ton in Dalian and 98.5 USD/ton in Singapore.

The rally was boosted by comments from US President Donald Trump, who hinted at the possibility of signing some trade deals this week. China is also considering negotiating proposals for a 145% tariff, which helped improve market sentiment. However, China’s domestic economic situation remains lackluster, with April’s services growth slowing to a seven-month low.

In terms of supply and demand, steel output from blast furnaces in China increased again in late April, while domestic demand decreased due to the low season. Ore inventories at ports also increased by 2.24% to 136.8 million tons, indicating that oversupply pressure still exists. Trading of other products such as coking coal, coke and steel coil remained sluggish.

On the positive side, India is a bright spot in the global picture. The country is expected to produce a record 289 million tonnes of iron ore in FY2024–25, up 4.3% from the previous year. India is also negotiating with the US to exempt steel, pharmaceuticals and auto components from tariffs, as it aims to become a net exporter of steel by 2047.

Source: https://baoquangnam.vn/gia-thep-hom-nay-7-5-trong-nuoc-tang-nhe-3154249.html