Construction steel can reach 15 million VND/ton

Steel prices on the exchange.

Steel prices today, April 18, 2024 - the price of steel for September 2024 delivery on the Shanghai Futures Exchange increased by 108 yuan to 3,544 yuan/ton.

Iron ore futures contracts for September delivery on China's DCE exchange closed 1.49% lower at 826 yuan ($114.10) per ton.

The benchmark SZZFK4 iron ore price for May delivery on the Singapore Exchange (SGX) fell 2.73% to $109.15 per ton, after three consecutive sessions of gains.

Steel prices today, April 18, 2024: Construction steel could reach 15 million VND/ton.

The market had hoped China would announce more stimulus measures in the second quarter following a series of disappointing data from the world's second-largest economy .

However, analysts say those hopes have faded after better-than-expected GDP data, although the real estate sector is still slowing down.

As of April 15th, the price of key steelmaking raw materials had increased by approximately 8% compared to the previous week. This suggests that iron ore demand may be supported by expectations of increased crude steel production in April.

Other steelmaking raw materials on the DCE exchange showed mixed performance, with DJMcv1 coking coal rising 1.6% while DCJcv1 coke fell 2.02%.

Benchmark steel prices on the Shanghai Futures Exchange also showed mixed movements. Rebar SRBcv1 and hot-rolled coil SHHCcv1 remained relatively stable, while bar SWRcv1 fell 0.32% and stainless steel SHHSScv1 declined 0.79%.

Domestic steel market prices

MB Securities Company predicts that domestic construction steel prices in 2024 could recover to 15 million VND/ton (an 8% increase compared to 2023), thanks to rising global steel prices and warming demand in the Vietnamese market.

According to KB Securities Vietnam (KBSV), the steel industry has the potential for a new price increase cycle to begin in the second half of 2024, driven by the recovery of demand for construction steel from the residential real estate sector as developers launch new projects and complete existing ones; the acceleration of construction on public investment projects such as bridges, roads, tunnels, and airports in 2024-2025; and the bottoming out and recovery of the Chinese real estate market.

According to a survey on Steel Online, steel prices today, April 18, 2024, remain unchanged, specifically:

Steel prices in Northern Vietnam

Hoa Phat steel prices decreased by 100 VND/kg today for both steel lines. CB240 coiled steel fell to 14,040 VND/kg; D10 CB300 ribbed steel bar fell to 14,430 VND/kg.

Viet Y Steel's prices, with CB240 coiled steel decreasing by 100 VND/kg to 14,040 VND/kg; D10 CB300 ribbed steel bars also decreased by 100 VND/kg to 14,540 VND/kg.

Viet Duc Steel's prices for CB240 coiled steel decreased by 100 VND/kg to 13,940 VND/kg, while D10 CB300 ribbed steel bars decreased by 10 VND/kg to 14,630 VND/kg.

Viet Nhat Steel (VJS) prices decreased by 100 VND/kg for the CB240 series, down to 14,110 VND/kg, while the D10 CB300 series remained at 14,310 VND/kg.

Kyoei Vietnam Steel (KVSC) prices for CB240 coil steel decreased by 100 VND/kg to 13,970 VND/kg, and for D10 CB300 ribbed steel bars decreased by 100 VND/kg to 14,270 VND/kg.

Viet My Steel (VAS) prices for CB240 coiled steel remained stable at 14,110 VND/kg, and for D10 CB300 ribbed steel bars remained stable at 14,210 VND/kg.

Steel prices in Central Vietnam

Today, steel prices in Central Vietnam decreased by 100 VND/kg across some brands. Specifically:

Hoa Phat steel prices, with CB240 coiled steel decreasing by 100 VND/kg to 14,040 VND/kg; D10 CB300 ribbed steel bars decreasing by 100 VND/kg to 14,390 VND/kg.

Viet Duc Steel's prices decreased by 100 VND/kg for CB240 coiled steel, down to 14,440 VND/kg; and by 100 VND/kg for D10 CB300 ribbed steel bars, down to 14,750 VND/kg.

Viet My Steel (VAS) prices for CB240 coiled steel remained stable at 14,210 VND/kg; and D10 CB300 ribbed steel bars remained stable at 14,670 VND/kg.

Pomina steel prices, with CB240 coiled steel remaining stable at 14,690 VND/kg; and D10 CB300 ribbed steel bars remaining stable at 15,300 VND/kg.

Steel prices in Southern Vietnam

Steel prices in the South also decreased by 100 VND/kg today. Specifically:

Hoa Phat steel prices, with CB240 coiled steel decreasing by 100 VND/kg to 14,040 VND/kg; D10 CB300 ribbed steel bars decreasing by 100 VND/kg to 14,430 VND/kg.

Pomina steel prices for CB240 coiled steel remained stable at 14,590 VND/kg; D10 CB300 ribbed steel bars remained stable at 15,300 VND/kg.

Viet My Steel (VAS) maintains stable prices for CB240 steel coils at 14,010 VND/kg and D10 CB300 ribbed steel bars at 14,410 VND/kg.

Tung Ho Steel maintains stable prices at 14,210 VND/kg for its CB240 coiled steel and 14,510 VND/kg for its D10 CB300 ribbed steel bars.

This information is for reference only; actual prices may vary depending on the location!

Source: https://congthuong.vn/gia-thep-hom-nay-ngay-1842024-thep-xay-dung-co-the-dat-muc-15-trieu-dongtan-315340.html