Steel price today November 8: World slightly recovers, domestic remains unchanged

World steel futures prices rose slightly on signs of tightening supply, ending the downward trend. However, the domestic construction steel market remained stable, with no new adjustments.

As of November 8, steel prices in the world market have shown a slight recovery trend after many sessions of decline, mainly due to concerns about narrowing supply. Meanwhile, the domestic steel market in Vietnam continues to maintain a stable state, with no changes in selling prices from major manufacturers.

Illustration photo/TL.

World market developments

On the Shanghai Futures Exchange (SHFE), rebar for May 2026 delivery rose 7 yuan to 3,103 yuan/ton. Other steel products also recorded slight increases: hot-rolled coil increased 0.22% and stainless steel increased 0.28%. Only wire rod prices remained unchanged.

Iron ore, a key input material, also ended a four-session losing streak. On the Dalian Commodity Exchange (DCE), iron ore futures rose 0.65% to 777.5 yuan/ton (equivalent to 109.15 USD/ton). Similarly, on the Singapore Exchange, the December contract rose 0.37% to 103.9 USD/ton.

Analysis of influencing factors

Supply and market psychology

Shipping volumes from the world’s two largest exporters, Australia and Brazil, have both declined, raising concerns about a global supply crunch, according to Everbright Futures. However, Atilla Widnell, managing director of Navigate Commodities in Singapore, said optimism following China’s fourth plenum is fading due to a lack of concrete information on long-term reform measures.

Mr Widnell also stressed that the risk of oversupply remains as Chinese steel mills have no incentive to permanently close old production lines. High steel output amid weak demand continues to put pressure on prices and profit margins.

Pressure from demand and inventory

ANZ analysts said iron ore prices were also under pressure from concerns about weakening demand, especially as steel mills in China’s Hebei province received warnings to cut production to protect the environment. Data from SteelHome also showed that as of October 31, iron ore inventories at Chinese ports had increased by 1.53% from the previous week to about 135.6 million tonnes.

Another factor is that the Thai Ministry of Commerce has initiated an investigation into anti-dumping duty evasion on hot-rolled steel sheets imported from China, targeting six major steel corporations. This move may affect China's export activities in the coming time.

Domestic steel prices are stable

According to data from SteelOnline.vn, domestic construction steel prices today did not record any fluctuations in the three regions of North, Central and South. Major brands such as Hoa Phat , Viet Y, VAS all kept their listed prices unchanged.

Steel price list of some major brands

Trademark	Product	Area	Price (VND/kg)
Hoa Phat	CB240 steel coil	North	13,580
Hoa Phat	D10 CB300 rebar steel	North	13,790
Vietnamese-Italian	CB240 steel coil	North	13,530
Vietnamese-Italian	D10 CB300 rebar steel	North	13,640
VAS	CB240 steel coil	North	13,500
VAS	D10 CB300 rebar steel	North	13,600
Hoa Phat	CB240 steel coil	Central region	13,580
Hoa Phat	D10 CB300 rebar steel	Central region	13,790
VAS	CB240 steel coil	Central region	13,650
VAS	D10 CB300 rebar steel	Central region	13,700
Pomina	CB240 steel coil	Central region	14,180
Hoa Phat	CB240 steel coil	Southern	13,580
Hoa Phat	D10 CB300 rebar steel	Southern	13,790
VAS	CB240 steel coil	Southern	13,500
VAS	D10 CB300 rebar steel	Southern	13,600
Pomina	CB240 steel coil	Southern	13,970

Source: https://baolamdong.vn/gia-thep-hom-nay-811-the-gioi-phuc-hoi-nhe-trong-nuoc-di-ngang-401229.html