June 17: Construction Steel Prices at Highest Level in 1 Week
17 thg 6, 2024
On June 17, steel prices on the Shanghai Exchange were steady at 3,455 RMB per ton. Iron ore profits widened but prices fell for the third consecutive week due to weak demand in China. Meanwhile, CB240 and D10 CB300 steel prices continued to remain stable in the domestic market.
Steel and Iron Ore Prices on the Exchange
On June 17, 2024, steel prices for September delivery on the Shanghai Exchange increased by 30 RMB per ton, currently standing at 3,455 RMB per ton at 9:30 AM (Vietnam time).
Iron ore futures rose for the second consecutive session on the final trading day of the week, supported by higher-than-expected hot metal output. However, concerns about demand and high inventory levels in China, the leading consumer country, have pushed prices down for the third week in a row.
The September iron ore futures contract on the Dalian Commodity Exchange (DCE) closed up by 1.97% at 827.50 RMB per ton (equivalent to 114.05 USD per ton). However, this contract has decreased by 1.7% over the week.
The July contract for iron ore on the Singapore Exchange (SGX) increased by 0.23% to 107.1 USD per ton.
Other steel production materials on the DCE also saw increases, with coke and coking coal rising by 2.41% and 3.92%, respectively.
Most of the steel benchmark prices on the Shanghai futures exchange saw gains. Rebar (SRBcv1) increased by 0.72%, hot-rolled coil (SHHCcv1) rose by 0.74%, and steel bars (SWRcv1) were up by 0.83%, while stainless steel (SHSScv1) fell by 0.57%.
Domestic Steel Prices Remain Stable
According to SteelOnline.vn, the prices for CB240 and D10 CB300 steel have continued to remain stable in the domestic market.
In April, construction steel production reached over 1 million tons, up 17.5% from the previous month and 43% from April 2023. Sales reached 1.19 million tons, up 23% from the previous month and 62% from the same period in 2023. Exports of construction steel totaled 167,562 tons, a 76% increase from April 2023.
For the first four months of 2023, construction steel production reached 3.73 million tons, up 8.2% from the same period in 2023. Steel sales reached 3.75 million tons, up 11.7%. Exports also showed improvement, increasing by 30% year-over-year to 517,613 tons.
Detailed Steel Prices by Region:
Northern Region:
Hoa Phat: CB240 at 14,090 VND/kg; D10 CB300 at 14,440 VND/kg
Viet Ý: CB240 at 14,240 VND/kg; D10 CB300 at 14,340 VND/kg
Viet Đức: CB240 at 14,240 VND/kg; D10 CB300 at 14,590 VND/kg
Viet Sing: CB240 at 14,010 VND/kg; D10 CB300 at 14,210 VND/kg
VAS: CB240 at 14,310 VND/kg; D10 CB300 at 14,310 VND/kg
Central Region:
Hoa Phat: CB240 at 14,140 VND/kg; D10 CB300 at 14,440 VND/kg
Viet Đức: CB240 at 14,750 VND/kg; D10 CB300 at 15,000 VND/kg
VAS: CB240 at 14,410 VND/kg; D10 CB300 at 14,260 VND/kg
Pomina: CB240 at 14,940 VND/kg; D10 CB300 at 15,200 VND/kg
Southern Region:
Hoa Phat: CB240 at 14,140 VND/kg; D10 CB300 at 14,440 VND/kg
VAS: CB240 at 14,310 VND/kg; D10 CB300 at 14,210 VND/kg
Pomina: CB240 at 14,790 VND/kg; D10 CB300 at 14,990 VND/kg
Source: Vietstock
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