Global steel prices fall due to China, domestic market remains stable.

Global steel and iron ore prices are under downward pressure after China announced new export control policies, while construction steel prices in Vietnam remain stable.

Global market developments

Steel and iron ore prices on the world market continued their downward trend in the trading session on December 15th, after China announced plans to tighten export controls on certain steel products starting in early 2026. This move raised concerns about demand prospects and put pressure on raw material prices.

Specifically, at the close of trading, the price of January 2026 steel rebar futures on the Shanghai Futures Exchange fell 0.13% to 3,079 yuan/tonne. Similarly, the price of iron ore on the Dalian Commodity Exchange fell 0.7% to 775.5 yuan/tonne. On the Singapore Exchange, the price of January 2026 iron ore futures also fell by $0.45, closing at $101.53/tonne.

The cause stems from China's policies.

According to an announcement from China's Ministry of Commerce, certain steel products will be subject to export licensing regulations starting January 1, 2026. This decision comes amid a surge in the country's steel exports, leading to protectionist trade measures from many international markets.

Steel and iron ore prices are under downward pressure following the announcement of new policies from China.

China's steel industry is becoming increasingly reliant on exports due to weakening domestic demand stemming from the prolonged real estate crisis. Data shows that by the end of November, only about 35% of steel mills in China were profitable, down from 45% at the end of October.

Market sentiment was also affected by disappointing economic data from China in November, with both retail sales growth and industrial production falling short of expectations.

The domestic steel market is stable.

Contrary to the fluctuations in the global market, the price of construction steel in the Vietnamese market remained stable on December 16th. Most major brands maintained the same listed prices as in previous sessions.

Here is a price list for reference in some areas:

Trademark	Product	Price (VND/kg)
Hoa Phat	CB240 steel coil	13,580
Hoa Phat	D10 CB300 ribbed steel bar	13,790
Vietnam Italy	CB240 steel coil	13,530
Vietnam Italy	D10 CB300 ribbed steel bar	13,640
Viet Duc	CB240 steel coil	13,530
Viet Duc	D10 CB300 ribbed steel bar	13,890
Pomina	D10 CB300 ribbed steel bar	~14,180

Prices in the North, Central, and South regions of Vietnam do not differ significantly. Businesses are maintaining stability amidst a not-yet-vibrant domestic market. Future price trends will largely depend on construction demand, the progress of public investment disbursement, and signals from the global market, especially China.

Source: https://baolamdong.vn/gia-thep-the-gioi-giam-vi-trung-quoc-thi-truong-trong-nuoc-di-ngang-410781.html