Iron ore market declines

Iron ore futures prices in Dalian fell, influenced by data showing a continued weakening of China's economy and steel market.

Steel prices in Northern Vietnam

According to SteelOnline.vn, Hoa Phat steel brand offers CB240 steel coils at 13,580 VND/kg; and D10 CB300 ribbed steel bars at 13,790 VND/kg.

Viet Y Steel brand offers CB240 steel coils at 13,530 VND/kg; D10 CB300 ribbed steel bars are priced at 13,640 VND/kg.

Viet Duc Steel offers CB240 steel coils at 13,530 VND/kg and D10 CB300 ribbed steel bars at 13,890 VND/kg.

Viet Sing Steel offers CB240 steel coils at 13,500 VND/kg and D10 CB300 ribbed steel bars at 13,700 VND/kg.

VAS steel, with CB240 coiled steel at 13,500 VND/kg; D10 CB300 ribbed steel bar at 13,600 VND/kg.

Steel prices in Central Vietnam

Hoa Phat Steel's CB240 coiled steel is priced at 13,580 VND/kg; D10 CB300 ribbed steel bars are priced at 13,790 VND/kg.

At Viet Duc Steel, the current price for CB240 steel coils is 13,990 VND/kg; and for D10 CB300 ribbed steel bars, it is 14,190 VND/kg.

Currently, VAS Steel offers CB240 steel coils at 13,650 VND/kg and D10 CB300 ribbed steel bars at 13,700 VND/kg.

Pomina Steel, with its CB240 coiled steel at 14,180 VND/kg; and D10 CB300 ribbed steel bars at 14,180 VND/kg.

Steel prices in Southern Vietnam

Hoa Phat Steel: CB240 steel coils are priced at 13,580 VND/kg; D10 CB300 ribbed steel bars have decreased to 13,790 VND/kg.

VAS steel, CB240 coil steel, is priced at 13,500 VND/kg; D10 CB300 ribbed steel bar is priced at 13,600 VND/kg.

Pomina steel, CB240 coiled steel is priced at 13,970 VND/kg; D10 CB300 ribbed steel bar is priced at 13,970 VND/kg.

Steel prices on the exchange.

Rebar futures on the Shanghai Futures Exchange (SHFE) for May 2025 delivery rose 28 yuan to 3,418 yuan per ton.

Iron ore futures prices in Dalian fell, influenced by data showing continued weakness in China's economy and steel market, although news of new measures from the leading consumer's central bank helped to limit losses.

The most actively traded January iron ore contract on China's Dalian Commodity Exchange (DCE) was down 1.55% at 760.5 yuan ($106.95) per ton, a 3.12% drop from the previous week.

The benchmark iron ore price for November delivery on the Singapore exchange rose 1.79% to $101.4 per ton. Prices had fallen 6.2% this week.

China's economy grew at its slowest pace since early 2023 in the third quarter, and although consumer spending and factory output figures exceeded forecasts last month, the slump in the real estate sector remains a major challenge for Beijing as it races to revive growth.

ANZ analysts said: “The market remains unimpressed with the focus on clearing housing inventory. The increasing reliance on stimulus measures to support prices could lead to continued disappointment for investors.”

Donald Marleau, an analyst at S&P Global Ratings, said that China's dominance as the world's largest steel producer, with output remaining stable at around 1 billion tonnes, means that Chinese iron ore demand remains the primary driver of prices.

"Therefore, in the near future, we believe that China's stimulus measures are likely to support prices in 2024 and through 2025 in a way consistent with current future prices. We also believe that downside risks to iron ore are likely to continue through 2026 and 2027," said Donald Marleau.

Marleau said the Chinese real estate market currently consumes around 250 tonnes of steel – slightly more than 25% of total production, but about 100 tonnes less than when the real estate market peaked before the pandemic.

He noted: “If measures aimed at absorbing vacant homes and boosting consumer confidence – thereby boosting the property market and stabilizing demand in the housing construction sector – prove weak, demand for steel from real estate construction and therefore iron ore could continue to weaken.”

Source: https://kinhtedothi.vn/gia-thep-hom-nay-21-10-thi-truong-quang-sat-giam.html