(HSV VIETNAM GROUP) - Steel price today February 9, 2024: On the Shanghai Exchange increased by 26 Yuan/ton. The domestic steel market is flat.
Steel price on the trading floor
Steel price today February 9, 2024: At the time of the survey at 8:50 a.m. (Vietnam time), the price of steel delivered in May 2024 on the Shanghai Exchange increased by 26 Yuan to 3,910 Yuan/ton.
Steel price today February 9, 2024: Increase on the trading floor; The domestic steel market went sideways
Steel price today February 9, 2024: On the Shanghai Exchange increased by 26 Yuan/ton. The domestic steel market is flat.
Most ferrous and materials futures contracts rose on Feb. 7, along with Chinese stocks, after Beijing signaled that authorities were stepping up efforts to support the slumping market.
May iron ore futures on China's Dalian Commodity Exchange (DCE) closed 1.1% higher at 944 yuan/ton (equivalent to $131.31/ton), recovering from a more than two-week low reached in the previous session.
The iron ore contract for March delivery on the Singapore Exchange (SGX) was almost unchanged at 125.05 USD/ton.
“Iron ore recorded its first monthly loss in January 2024 since April last year, supported by a sell-off in domestic equities that weighed on market confidence and a seasonal slowdown ahead of the Lunar New Year,” Citi analysts said.
The domestic steel market is flat
According to the Vietnam Steel Association (VSA), the prospect of Vietnam's steel production increases by about 10% in 2024 when the demand for steel from domestic economic sectors recovers. It is forecast that finished steel production in 2024 - 2025 will reach about 28 - 30 million tons and domestic steel consumption demand will reach about 21 - 22.5 million tons.
The domestic steel market near the Lunar New Year is considered to be flat, but the speed of consumption in the market is slowing down because Tet is near. The purchasing power of the domestic construction steel market is expected to recover after Tet.
Survey at SteelOnline.vn. The domestic steel market is flat with CB240 steel and D10 CB300 steel prices. Specifically, steel prices in three regions are as follows:
Today, February 9, the domestic market went sideways. Steel price details in 3 specific regions:
Steel prices in the North
Hoa Phat steel price today with CB240 steel coil line is at 14,340 VND/kg; D10 CB300 rebar steel is stable at 14,530 VND/kg.
Vietnam-Italy steel price, with CB240 steel coil line, is at 14,340 VND/kg; rebar steel D10 CB300 at 14,640 VND/kg.
Viet Duc steel price with CB240 steel coil line is at 14,240 VND/kg, D10 CB300 rebar steel price is stable at 14,640 VND/kg.
The price of Viet Nhat Steel (VJS), with the CB240 steel line, is stable at 14,210 VND/kg, with the D10 CB300 steel line remaining at 14,310 VND/kg.
The price of Viet My Steel (VAS), with the CB240 steel coil line at 14,110 VND/kg, with the D10 CB300 rebar steel line is stable at 14,210 VND/kg.
Steel prices in the Central region
Hoa Phat steel price, with CB240 steel coil line, is at 14,340 VND/kg; D10 CB300 rebar steel bar at 14,490 VND/kg.
Viet Duc steel price, with CB240 steel coil line, is at 14,750 VND/kg; rebar steel D10 CB300 at 14,850 VND/kg.
Viet My Steel (VAS) price, with CB240 steel coil line, is at 14,410 VND/kg; rebar steel D10 CB300 at 14,260 VND/kg.
Pomina steel price, with CB240 steel coil line, is stable at 14,890 VND/kg; rebar steel D10 CB300 at 15,300 VND/kg.
Steel prices in the South
Hoa Phat steel price, with CB240 steel coil line, is at 14,340 VND/kg; rebar steel D10 CB300 at 14,530 VND/kg.
Pomina steel price with CB240 steel coil line is stable at 14,790 VND/kg; rebar steel D10 CB300 at 15,300 VND/kg.
Viet My Steel (VAS), with CB240 steel coil line at 14,160 VND/kg; rebar steel D10 CB300 at 14,260 VND/kg.
Tung Ho steel, with the CB240 steel coil line at 14,260 VND/kg, with the D10 CB300 rebar steel line at 14,410 VND/kg.
Information is for reference only, actual prices will vary by locality.
Ha Diem HSV