(HSV VIETNAM GROUP) – Steel prices today, December 18, in the domestic market are stable. It is forecast that steel consumption in 2024 will reach nearly 29 million tons, an increase of 7% compared to 2023.
Steel prices today in the North are stable. Specifically:
Hoa Phat steel price today with CB240 steel coil line is at 13,940 VND/kg; rebar steel D10 CB300 at 14,240 VND/kg.
Vietnam-Italy steel price, with CB240 steel coil line, is at 13,840 VND/kg; rebar steel D10 CB300 at 14,170 VND/kg.
Viet Duc steel prices with CB240 steel coil line are stable at 13,640 VND/kg, D10 CB300 rebar steel bars at 14,340 VND/kg.
Price of Viet Nhat Steel (VJS), with steel line CB240 at 13,910 VND/kg, with steel line D10 CB300 at 14,010 VND/kg.
The price of Viet My Steel (VAS), with the CB240 steel coil line at 13,600 VND/kg, with the D10 CB300 rebar steel line at 13,850 VND/kg.
Steel price today December 18, 2023 in the Central region
Steel prices today in the Central region are also stable. Specifically:
Hoa Phat steel price, with CB240 steel coil line, is at 13,940 VND/kg; rebar steel D10 CB300 at 14,340 VND/kg.
Viet Duc steel price, with CB240 steel coil line, is at 14,140 VND/kg; rebar steel D10 CB300 at 14,750 VND/kg.
The price of Viet My Steel (VAS), with the CB240 steel coil line, is at 14,010 VND/kg; rebar steel D10 CB300 at 14,260 VND/kg.
Pomina steel price, with CB240 steel coil line, is at 14,890 VND/kg; rebar steel D10 CB300 at 15,300 VND/kg.
Steel price today in the South
Steel prices today in the South are flat. Specifically:
Hoa Phat steel price, with CB240 steel coil line, is at 13,950 VND/kg; rebar steel D10 CB300 at 14,250 VND/kg.
Pomina steel price with CB240 steel coil line is stable at 14,590 VND/kg; D10 CB300 rebar steel bar at 14,990 VND/kg.
Viet My Steel (VAS), with CB240 steel coil line at 13,600 VND/kg; rebar steel D10 CB300 at 13,850 VND/kg.
Tung Ho Steel, with the CB240 steel coil line at 13,700 VND/kg, with the D10 CB300 rebar steel line at 14,060 VND/kg.
Note: The above price lists are for reference only, actual prices will vary depending on locality, shipping method, payment method, transaction volume... Readers please contact the nearest steel manufacturing and distribution businesses for specific advice.
It is forecasted that steel consumption may increase by 7% in 2024
According to the Vietnam Steel Association (VSA), the fourth quarter of every year is a favorable time to carry out construction projects, businesses often promote construction to complete progress during the year. As a result, steel consumption increased sharply in November 2023 to reach 2.5 million tons, up 13.1% over the previous month and up 30.1% over the same period in 2022.
In the first 11 months of 2023, steel production reached 25 million tons, down 7.8% over the same period in 2022. Steel consumption reached nearly 23.7 million tons, down 5.6% over the same period in 2022. Of which, steel exports reached more than 7.4 million tons, up 29% over the same period last year.
For construction steel products, consumption in November increased compared to previous months and reached the highest level in the past 20 months, reaching 1.1 million tons, up 29% over the previous month and up 28% over the same period in 2022, accounting for 45% of finished steel sales. In particular, construction steel consumption of many businesses increased sharply.
Accumulated in the first 11 months of 2023, construction steel consumption will reach 9.7 million tons, down 13.5% over the same period in 2022. Of which, exports will reach 1.56 million tons, down 23% over the same period in 2022.
Forecasting the prospects of the steel industry in 2024, Mr. Dinh Quoc Thai, General Secretary of VSA, said that consumption output could reach nearly 29 million tons, an increase of 7% compared to 2023.
According to Vietcombank Securities (VCBS), in the coming time, Vietnam's steel industry will be further stimulated from recovering demand. According to forecasts of the World Steel Association, worldwide steel consumption demand in 2023 will recover slightly at 1.8% and continue to grow by 1.9% in 2024. In particular, significant recovery in European countries, Asia, America...
In addition, steel import demand in key countries such as the US and EU has a good recovery rate in the first 9 months of 2023, from the bottom of the fourth quarter of 2022. Import demand is expected to continue to maintain positive inertia in the coming quarters in the context of high domestic price differences in the EU, US and Asia.
VCBS expects that in 2024, public investment will make a breakthrough due to disbursement for backlogged projects carried over from 2023 and the Government's additional economic stimulus package.
In addition, the gradual recovery of the domestic real estate industry is also a foundation for steel industry demand in 2024. The real estate construction market (accounting for 60% of steel demand) is gradually removing difficulties thanks to revised policies. The number of ongoing projects shows clear growth in the North and recovery in the South. This helps demand for construction materials to recover in the coming quarters.
Steel price and iron ore price today December 18, 2023 in the world
At the end of the trading session last weekend, December 15, on the Shanghai Futures Exchange (SHFE, China), the price of rebar steel delivered in May 2024 decreased by 32 Yuan/ton (down 0.81%) to 3,915 Yuan/ton (550.66 USD/ton). Hot rolled coil (HRC) steel prices decreased by 34 yuan/ton (down 0.84%), to 4,033 yuan/ton (567.26 USD/ton).
On the raw material market, the price of iron ore delivered in May 2024 on the Dalian Commodity Exchange (DCE, China), decreased by 1.37% to 935 NTD/ton (131.51 USD/ton) - the lowest in the past 10 days.
On the Singapore Commodity Exchange (SGX), the price of iron ore delivered in January 2024 decreased slightly by 0.09%, to 133.89 USD/ton.
Steel prices today, December 18, in the domestic market are stable. It is forecast that steel consumption in 2024 will reach nearly 29 million tons, an increase of 7% compared to 2023.
Ha Diem HSV