(HSV VIETNAM GROUP) – Steel price today September 7, 2023: Increased by 1 yuan. The group of steel stocks simultaneously exploded, Hoa Phat Steel's HPG reached a 16-month high.
Today's steel price for delivery in October 2023 on the Shanghai Exchange increased by 1 yuan to 3,817 yuan/ton.
On September 6, the group of steel stocks recorded a boom, simultaneously increasing sharply by over 4%, even the duo NKG (Nam Kim Steel) and HSG (Hoa Sen Group) were even dyed purple.
HPG shares of "big man" Hoa Phat increased 4.3% and climbed to 29,000 VND/share - the highest peak in 16 months. HPG's liquidity was highest on the entire exchange with more than 52 million shares matched - double the average volume, HSG recorded 24 million units changed hands while NKG recorded more than 21 million shares traded.
Although steel consumption is still gloomy, the trading session on September 6 recorded a "boom" in steel stocks.
Recently, steel stocks are also on the recovery path along with the general market trend. Most stocks have increased by the same amount since the bottom such as HSG +173%, NKG +160%, TLH +115%,... to climb to the highest peak in more than 1 year.
Also in the steel group, the upward momentum spread widely, pushing VGS, HSG, and NKG to the ceiling. TLH, SMC, TVN, POM... all increased prices
The positive developments of steel stocks take place in the context that world steel prices are on the way to a slight recovery after a "fall" in mid-August. Currently, rebar steel prices in China have recovered about 5% over the past 2 weeks to 3,747 CNY/ton.
Domestic steel moves sideways
On August 23, some steel manufacturing enterprises reduced construction steel products by 100,000 - 810,000 VND/ton, down to 13.5-15 million VND/ton.
Thus, this is the 18th consecutive price reduction since the beginning of 2023. During this adjustment, the Vina Kyoei steel brand had the strongest decrease. In the Southern region, Vina Kyoei simultaneously reduced 810,000 VND/ton with CB240 rolled steel and D10 CB300 steel, down to 14.82 million VND/ton and 15 million VND/ton, respectively.
Although steel consumption is still gloomy, the trading session on September 6 recorded a "boom" in steel stocks.
Hoa Phat Steel lowers VND 410,000/ton and VND 300,000/ton for CB240 steel coil line and D10 CB300 rebar in the North. Currently, the prices of the two steel lines are at 13.53 million VND/ton and 13.74 million VND/ton respectively.
In the Central region, CB240 Hoa Phat steel coil was adjusted down by 210,000 VND/ton, currently at 13.53 million VND/ton; rebar steel D10 CB300 is now 13.74 million VND/ton after a reduction of 150,000 VND/ton.
In the South, Hoa Phat adjusted a reduction of 510,000 VND/ton for CB240 rolled steel, down to 13.53 million VND/ton; rebar steel bar D10 CB300 reduced by 200,000 VND/ton, priced at 13.79 million VND/ton.
Vietnam Italy Steel is the unit with the lowest price reduction: 100,000 VND/ton reduction for D10 CB300 rebar steel bar to 13.69 million VND/ton; CB240 steel remains unchanged at 13.64 million VND/ton.
Viet Duc Steel also reduced by 100,000 VND/ton in the North and Central regions with the D10 CB300 line. After the reduction, Viet Duc steel prices were 13.74 million VND/ton and 14.14 million VND/ton respectively. CB240 steel in the North and Central regions still maintains the price of 13.89 million VND/ton and 14.04 million VND/ton.
Viet Sing Steel decreased by 200,000 VND/ton for both steel lines, currently CB240 steel coil is being traded at 13.3 million VND/ton; D10 CB300 rebar steel is now 13.5 million VND/ton.
Tung Ho Steel in the South lowered 200,000 VND/ton and 100,000 VND/ton respectively with CB 240 and D10 CB300 steel, currently the two steel products are at 13.5 million VND/ton and 13.65 million VND/ton.
Faced with domestic steel prices continuously decreasing in recent times, the Vietnam Steel Association (VSA) believes that construction steel prices are still likely to continue to decrease in the near future. The reason is said to be that the real estate market has not shown positive signs yet, a few social housing projects have only just been implemented. Public investment projects have not prospered. Besides, the 7th lunar month is also the month of "ghosts" - considered a "nightmare" for the construction industry when almost no new projects break ground this month. This leads to a sharp decrease in steel consumption.
After 18 decreasing sessions, steel prices today are at the following levels:
Steel prices in the North
Hoa Phat Steel deeply reduced its selling price, with the CB240 steel coil line dropping deeply by 410 VND, from 13,940 VND/kg to 13,530 VND/kg; D10 CB300 rebar steel bar is reduced by 300 VND, priced at 13,740 VND/kg.
Vietnam Italy Steel, CB240 steel coil line at 13,640 VND/kg; D10 CB300 rebar steel also decreased by 100 VND, down to 13,690 VND/kg.
Viet Duc Steel, with CB240 steel coil line at 13,740/kg, D10 CB300 rebar steel bar priced at 13,890 VND/kg - down 100 VND.
VAS steel, with the CB240 steel coil line and D10 CB300 rebar steel bar, has the same price of 13,400 VND/kg.
VJS steel, with D10 CB300 rebar steel priced at 13,600 VND/kg; CB240 steel coil line is at 13,800 VND/kg.
Thai Nguyen steel price, with CB240 steel coil line at 13,670 VND/kg, with D10 CB300 rebar steel line at 13,820 VND/kg.
Steel prices in the Central region
Hoa Phat Steel, with the CB240 steel coil line, decreased by 210 VND to 13,530 VND/kg; D10 CB300 rebar steel bar is reduced by 150 VND, priced at 13,740 VND/kg.
VAS steel, currently D10 CB300 rebar steel is priced at 13,550 VND/kg; CB240 steel coil line decreased by 100 VND at 13,500 VND/kg.
Pomina steel, with CB240 steel coil line at 14,590 VND/kg; D10 CB300 rebar steel bar is reduced by 100 VND, priced at 14,380 VND/kg.
Steel prices in the South
Hoa Phat Steel has a deep discount, D10 CB300 rebar steel is priced at 13,790 VND/kg - down 200 VND; CB240 steel coil is at 13,530 VND/kg - down 510 VND.
VAS steel, CB240 steel coil line and D10 CB300 rebar steel all decreased by 100 VND, priced at 13,600 VND/kg.
Pomina steel, CB240 steel coil line costs 14,480 VND/kg; rebar steel D10 CB300 decreased by 100 VND, down to 14,380 VND/kg.
Ha Diem HSV