(HSV VIETNAM GROUP) - Steel prices today, May 1, 2024: Chinese construction iron and steel prices fell to the lowest level in the past 2 weeks; The domestic market is forecast to have a positive outlook.
Steel price on the trading floor
Steel price today May 1, 2024: Steel price delivered in September 2024 on the Shanghai Exchange decreased 29 yuan to 3,543 yuan/ton.
According to Reuters, iron ore futures fell on Monday (April 29) after weak industrial data in top consumer China and steelmakers completing pre-May Day restocking.
September iron ore futures on China's Dalian Commodity Exchange (DCE) closed 0.51% lower at 874.50 yuan/ton ($120.69/ton), having risen more than 14% this month.
Standard SZZFK4 iron ore price for May delivery on the Singapore Exchange decreased 0.55% to 117.20 USD/ton.
Other steelmaking components on the DCE Exchange recorded gains, with DJMcv1 coking coal and DCJcv1 coking coal rising 0.17% and 0.23%, respectively.
Most steel benchmarks on the Shanghai Futures Exchange are lower. Specifically, hot rolled steel coil SHHCcv1 decreased by 0.18%, steel bar SWRCv1 decreased by 0.46% and stainless steel SHSScv1 decreased by 0.42%. However, steel bars SRBcv1 increased by 0.14%.
Domestic steel market
In general, expectations for a recovery in both price and demand of the domestic steel market are increasing. Some northern construction material traders said that the average sales speed for civil customers in April has improved compared to the previous month.
Although the current world steel market is unstable and complex, most market participants assess that the domestic construction steel market in the second quarter will have more positive prospects than the first quarter of 2024, especially the improvement in steel consumption demand. The consumption output of the second quarter is forecast to increase compared to the first quarter of 2024 and may even bring the cumulative output level to gradually reach the same level as the same period last year. 2023.
Steel prices today in the domestic market remain stable. According to a survey on Steel Online, today's steel price on May 1, 2024, specifically:
Steel prices in the North
Hoa Phat steel price for CB240 steel coil line dropped to 14,040 VND/kg; rebar steel D10 CB300 down to 14,430 VND/kg.
Vietnam-Italy steel price, with CB240 steel coil line, decreased by 100 VND/kg, down to 14,040 VND/kg; D10 CB300 rebar steel also decreased by 100 VND/kg, down to 14,540 VND/kg.
The price of Viet Duc steel with CB240 steel coil line decreased by 100 VND/kg, to 13,940 VND/kg, D10 CB300 rebar steel price decreased by 10 VND/kg, to 14,630 VND/kg.
The price of Viet Nhat Steel (VJS), with the CB240 steel line, decreased by 100 VND/kg, to 14,110 VND/kg, with the D10 CB300 steel line maintaining at 14,310 VND/kg.
The price of Kyoei Vietnam Steel (KVSC) with the CB240 steel coil line decreased by 100 VND/kg, to 13,970 VND/kg, with the D10 CB300 rebar steel line decreased by 100 VND/kg, down to 14,270 VND/kg.
The price of Viet My Steel (VAS), with the CB240 steel coil line, is stable at 14,110 VND/kg, with the D10 CB300 rebar steel line stable at 14,210 VND/kg.
Steel prices in the Central region
Steel prices today in the Central region decreased by 100 VND/kg in some steel brands. Specifically:
Hoa Phat steel price, with CB240 steel coil line, decreased by 100 VND/kg to 14,040 VND/kg; rebar steel D10 CB300 decreased by 100 VND/kg, down to 14,390 VND/kg.
Viet Duc steel price, with CB240 steel coil line, decreased by 100 VND/kg, down to 14,440 VND/kg; rebar steel D10 CB300 decreased by 100 VND/kg, down to 14,750 VND/kg.
The price of Viet My Steel (VAS), with the CB240 steel coil line, is stable at 14,210 VND/kg; D10 CB300 rebar steel is stable at 14,670 VND/kg.
Pomina steel price, with CB240 steel coil line, is stable at 14,690 VND/kg; D10 CB300 rebar steel is stable at 15,300 VND/kg.
Steel prices in the South
Today's steel price in the South also decreased by 100 VND/kg. Specifically:
Hoa Phat steel price, with CB240 steel coil line, decreased by 100 VND/kg, down to 14,040 VND/kg; rebar steel D10 CB300 decreased by 100 VND/kg, down to 14,430 VND/kg.
Pomina steel price with CB240 steel coil line is stable at 14,590 VND/kg; D10 CB300 rebar steel is stable at 15,300 VND/kg.
Viet My Steel (VAS), with CB240 steel coil line stable at 14,010 VND/kg; rebar steel D10 CB300 at 14,410 VND/kg.
Tung Ho Steel, with the CB240 steel coil line stable at 14,210 VND/kg, with the D10 CB300 rebar steel line at 14,510 VND/kg.
Information is for reference only, actual prices will vary by locality!
Diem Ha HSV