The Japanese Yen reversed course and rose sharply.
The Japanese Yen exchange rates surveyed at specific banks on the morning of March 7, 2024 are as follows:
At Vietcombank , the buying rate for JPY is 159.95 VND/JPY and the selling rate is 169.30 VND/JPY, an increase of 0.93 VND in the buying rate and 0.98 VND in the selling rate.
At Vietinbank , the Yen exchange rate increased by 0.47 dong in both buying and selling directions, equivalent to 160.89 VND/JPY and 170.59 VND/JPY respectively.
At BIDV , the buying rate increased by 0.72 VND and the selling rate increased by 0.78 VND, reaching 160.97 VND/JPY and 169.48 VND/JPY respectively.
At Agribank, the buying and selling rates are 160.70 VND/JPY and 168.89 VND/JPY respectively - an increase of 0.48 VND in the buying rate and 0.63 VND in the selling rate.
At Eximbank, the buying rate increased by 0.75 dong and the selling rate increased by 0.78 dong, reaching 162.35 VND/JPY and 167.1 VND/JPY respectively.
At Techcombank, the Japanese Yen exchange rate increased by 0.58 VND on the buying side and 0.68 VND on the selling side, reaching 158.07 VND/JPY and 170.6 VND/JPY respectively.
At Sacombank, the buying rate increased by 0.85 VND and the selling rate increased by 0.82 VND, corresponding to prices of 162.85 VND/JPY and 167.9 VND/JPY respectively.
According to the survey, Sacombank has the highest buying rate for the Japanese Yen today, while Eximbank has the lowest selling rate among all banks.
Gold continues its meteoric rise, setting a new all-time high.
Today, SJC gold increased by 200,000 VND/ounce for both buying and selling, bringing the price to 81 million VND/ounce, while world gold prices surged to a new record high.
As of 5:00 AM on March 7, 2024, the gold prices on the exchanges of several companies were as follows:
DOJI lists the price of 9999 gold at 78.95 million VND/ounce for buying and 80.85 million VND/ounce for selling.
At Bao Tin Minh Chau Co., Ltd., the price of SJC gold is also being traded at 79.05 - 80.90 million VND/ounce (buying price - selling price). Meanwhile, at Bao Tin Manh Hai, it is being traded at 79.05 - 81.10 million VND/ounce (buying price - selling price).
According to Kitco, the spot price of gold in the world market at 5:00 AM Vietnam time today was $2,147.560 USD/ounce, a difference of $17.995 USD/ounce compared to yesterday's price. Converted using the current exchange rate at Vietcombank, the world gold price is approximately VND 63.189 million/ounce (excluding taxes and fees). Therefore, the price of SJC gold bars is still VND 15.811 million/ounce higher than the international gold price.
Domestic coffee prices continue to maintain high levels.
Domestic coffee prices, updated at 4:12 AM on March 7, 2024, continue to maintain high increases and reach new peaks. Currently, the average purchase price in the Central Highlands provinces is 87,400 VND/kg, with the highest purchase price in Dak Nong province at 87,600 VND/kg.
Specifically, the purchase price of coffee in Gia Lai and Kon Tum provinces is quite high at 87,400 VND/kg; in Dak Nong province, the highest purchase price is 87,600 VND/kg.
In Lam Dong province, in districts such as Bao Loc, Di Linh, and Lam Ha, green coffee beans are being purchased at a price of 87,000 VND/kg.
In Cu M'gar district, Dak Lak province, coffee is being purchased at 87,400 VND/kg, while in Ea H'leo district and Buon Ho town, it is being purchased at the same price of 87,500 VND/kg.
Hoa Phat's steel consumption increased by 32%.
Steel prices on the exchange fell by 33 yuan/ton today. Hoa Phat's steel consumption increased by 32%.
Steel futures for May 2024 delivery on the Shanghai Futures Exchange fell 33 yuan to 3,652 yuan per ton.
Iron ore futures contracts for May delivery on China's Dalian Commodity Exchange (DCE) closed 0.69% higher at 879.5 yuan/tonne (US$122.17/tonne). The benchmark SZZFJ4 iron ore futures contract for April delivery on the Singapore Exchange (SGX) fell 1.23% to US$114.2/tonne.
Domestically, construction steel is expected to become a bright spot in the recovery of the steel industry, as the two sectors that account for a large proportion of steel consumption – civil construction (accounting for 66% of construction steel demand) and public investment (accounting for 14%) – are showing positive signs of recovery since the end of 2023.
For example, Hoa Phat Group produced 1.38 million tons of crude steel in the first two months of 2024, a 71% increase compared to the same period in 2023. Sales of HRC steel, construction steel, high-quality steel, and steel billets reached 1.15 million tons, a 32% increase compared to the same period.
Steel prices in Northern Vietnam
Today's Hoa Phat steel prices are as follows: CB240 coiled steel is priced at 14,340 VND/kg; D10 CB300 ribbed steel bars remain stable at 14,530 VND/kg.
Viet Y Steel's prices are as follows: CB240 coiled steel is priced at 14,340 VND/kg; D10 CB300 ribbed steel bars are priced at 14,640 VND/kg.
Viet Duc Steel's prices for CB240 coiled steel remain at 14,240 VND/kg, while D10 CB300 ribbed steel bars remain stable at 14,640 VND/kg.
Viet Nhat Steel (VJS) prices remain stable at 14,210 VND/kg for CB240 steel and 14,310 VND/kg for D10 CB300 steel.
Viet My Steel (VAS) prices for CB240 coiled steel remain stable at 14,110 VND/kg, while D10 CB300 ribbed steel bars remain stable at 14,210 VND/kg.
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