Steel price today August 7: Chinese steel is heading towards the milestone...

Chinese steel and iron ore prices rebounded, while iron ore futures on the SGX fell again on concerns about weakening demand and some investors liquidated positions to...

Chinese steel and iron ore prices rebounded, while iron ore futures on the SGX fell again on concerns about weakening demand and some investors liquidated positions to shift their focus to coking coal, Reuters reported.

World steel price today

At the end of the trading session on August 6, the price of steel rebar for August delivery on the Shanghai Stock Exchange reversed and increased by 0.85% (27 yuan) to 3,195 yuan/ton. On the Dalian Stock Exchange, the price of iron ore for August delivery increased by 0.86% (7 yuan) to 816.5 yuan/ton. Similarly, the price of iron ore for August delivery on the Singapore-SGX Exchange decreased by 0.66 USD to 101.25 USD/ton.

China's steel industry is stepping up efforts to establish a practical self-regulatory framework to boost profits and improve operational quality through a more tightly controlled production mechanism, according to China Daily.

Zhao Minge, Chairman of the China Iron and Steel Association (CISA), said the association will continue to support relevant authorities in perfecting enforcement measures on capacity replacement, strengthening policy publicity, improving performance evaluation mechanisms, and actively collecting feedback from industry stakeholders.

“The steel industry is expected to continue to improve its production control mechanism, prioritizing quality, safety, environmental efficiency, and reducing energy consumption and carbon emissions – all to optimize capacity,” he said.

He said that regulating crude steel output is still the most feasible solution to adjust production intensity and achieve supply-demand balance.

The association is calling on the industry to adhere to the principle of setting clear output targets, market positioning and price expectations, while avoiding chaotic competition and uncontrolled capacity expansion.

The industry’s export strategy is also being adjusted. China’s steel industry is expected to effectively implement production control measures.

In addition, CISA will improve the steel import and export monitoring system, strengthen analysis of structural trends, and closely monitor developments in international trade.

Attention is also being focused on higher material standards required by emerging industries such as new energy, high-end equipment manufacturing, information technology and biomedicine to upgrade the industrial structure.

Mr. Hoang Di Tan, Chairman of Nanjing Steel Co., Ltd., said that the enterprise is promoting the development of high-end steel products through innovation in conjunction with research institutes, with specialized products focusing on applications in areas such as solar energy, offshore wind power and cross-sea infrastructure.

According to data from the National Bureau of Statistics of China, the country's crude steel output in the first half of 2025 reached 515 million tons, down 3% year-on-year. Apparent crude steel consumption reached 452 million tons, down 5.6% year-on-year.

Fitch Ratings said the steel industry's first-half profit reached 46.3 billion yuan ($6.44 billion), surpassing the full-year profit in 2024.

Fitch also forecasts that China's steel exports will remain high in the second half of 2025, despite rising protectionism, after a 9% year-on-year volume increase in the first half.

Domestic steel prices today

Steel prices in the North: According to SteelOnline.vn, Hoa Phat steel brand, with CB240 rolled steel line at 13,650 VND/kg; D10 CB300 ribbed steel bar is priced at 13,790 VND/kg.

Viet Y steel brand, CB240 rolled steel line is priced at 13,890 VND/kg; D10 CB300 ribbed steel bar is priced at 13,990 VND/kg.

Viet Duc Steel, with CB240 coil steel line at 13,550 VND/kg, D10 CB300 ribbed steel bar is priced at 13,550 VND/kg.

Viet Sing Steel, with CB240 coil steel, is priced at VND13,690/kg; D10 CB300 ribbed steel is priced at VND13,580/kg.

VAS steel, with CB240 coil steel line at 13,740 VND/kg; D10 CB300 ribbed steel bar is priced at 13,740 VND/kg.

Steel prices in the Central region: Hoa Phat Steel, with CB240 coil steel line, is at 13,530 VND/kg; D10 CB300 ribbed steel bar is priced at 13,530 VND/kg.

Viet Duc Steel, currently CB240 coil steel is at 14,050 VND/kg; D10 CB300 ribbed steel is priced at 14,000 VND/kg.

VAS steel, CB240 coil steel line is at 13,740 VND/kg; D10 CB300 ribbed steel bar is priced at 13,790 VND/kg.

Steel prices in the South: Hoa Phat Steel, CB240 rolled steel, at 13,790 VND/kg; D10 CB300 ribbed steel is priced at 13,740 VND/kg.

VAS steel, CB240 coil steel line is at 13,740 VND/kg; D10 CB300 ribbed steel bar is priced at 13,840 VND/kg.

Source: https://baolamdong.vn/gia-thep-hom-nay-7-8-thep-trung-quoc-huong-toi-moc-3-200-nhan-dan-te-tan-386644.html