Steel prices on the exchange

Steel price today April 19, 2024: Steel price for September 2024 delivery on the Shanghai Stock Exchange increased by 66 yuan to 3,610 yuan/ton.

Steel prices today, April 19, 2024: On the Shanghai Stock Exchange, it increased by 66 yuan/ton. Iron ore reached a 5-week high thanks to the improving steel market.

Iron ore futures rebounded on Wednesday (April 17), hitting their highest in more than five weeks, buoyed by an improving steel market and expectations that steelmakers in top consumer China will restock ahead of the holiday, Reuters reported.

The September iron ore contract on China’s Dalian Commodity Exchange (DCE) closed 4.25% higher at 870 yuan ($120.20) a tonne, its highest since March 11. It fell more than 1% on Tuesday (April 16).

The benchmark SZZFK4 iron ore price for May delivery on the Singapore Exchange (SGX) rose 5.63% to $115.55 a tonne, hitting its highest level since March 8.

Near-term ore demand will remain steady as mills become increasingly willing to resume production following improved margins and downstream demand, analysts said.

While construction steel demand remains relatively weak compared with a year earlier, steel consumption from the manufacturing sector remains strong, analysts at Huatai Futures said.

Meanwhile, data from information provider Gangguwang showed that China's apparent construction steel consumption increased by more than 10% week-on-week as of April 17.

Other steelmaking raw materials on the DCE also rose, with coking coal DJMcv1 and coking coal DCJcv1 up 2.64% and 1.87%, respectively.

Steel benchmarks on the Shanghai Futures Exchange were broadly higher. Rebar SRBcv1 rose 1.94%, hot-rolled coil SHHCcv1 rose 1.29%, rebar SWRcv1 rose 0.74%, and stainless steel SHHScv1 rose 0.43%.

Domestic steel market

According to Vietnam Steel Corporation (VNSTEEL), contrary to the downward trend in construction steel prices, domestic steel billet and scrap steel prices have stopped decreasing and even increased in April 2024.

Since the beginning of April, the price of scrap steel in the North has increased by 300,000 - 400,000 VND/ton; in the South, some manufacturers have announced an increase in the purchase price of domestic scrap steel by 100,000 - 150,000 VND/ton. However, in general, the general price level in the Southern scrap steel market remains stable, without any clear adjustment like the Northern market.

Similar to the price of scrap steel, domestic steel billet prices also recovered in the first half of April, increasing by VND 200,000 - 300,000/ton compared to the end of March 2024.

According to a survey on Steel Online, steel prices today, April 19, 2024, have not fluctuated, specifically:

Steel prices in the North

Hoa Phat steel price today decreased by 100 VND/kg for both steel lines. With CB240 rolled steel down to 14,040 VND/kg; D10 CB300 ribbed steel down to 14,430 VND/kg.

The price of Viet Y steel, with CB240 coil steel line decreased by 100 VND/kg, down to 14,040 VND/kg; D10 CB300 ribbed steel bar also decreased by 100 VND/kg, down to 14,540 VND/kg.

Viet Duc steel price for CB240 coil steel decreased by 100 VND/kg, down to 13,940 VND/kg, D10 CB300 ribbed steel decreased by 10 VND/kg, down to 14,630 VND/kg.

The price of Viet Nhat Steel (VJS), with CB240 steel line decreased by 100 VND/kg, down to 14,110 VND/kg, with D10 CB300 steel line maintained at 14,310 VND/kg.

Kyoei Vietnam Steel (KVSC) price for CB240 coil steel decreased by 100 VND/kg, down to 13,970 VND/kg, and for D10 CB300 ribbed steel bar decreased by 100 VND/kg, down to 14,270 VND/kg.

Vietnam-America Steel (VAS) price, with CB240 coil steel line stable at 14,110 VND/kg, with D10 CB300 ribbed steel line stable at 14,210 VND/kg.

Steel prices in the Central region

Steel prices in the Central region today decreased by 100 VND/kg for some steel brands. Specifically:

Hoa Phat steel price, with CB240 coil steel line decreased by 100 VND/kg to 14,040 VND/kg; D10 CB300 ribbed steel bar decreased by 100 VND/kg to 14,390 VND/kg.

Viet Duc steel price, with CB240 coil steel line decreased by 100 VND/kg, down to 14,440 VND/kg; D10 CB300 ribbed steel bar decreased by 100 VND/kg, down to 14,750 VND/kg.

Vietnam-America Steel (VAS) prices, with CB240 coil steel stable at 14,210 VND/kg; D10 CB300 ribbed steel bar stable at 14,670 VND/kg.

Pomina steel price, with CB240 coil steel stable at 14,690 VND/kg; D10 CB300 rebar steel stable at 15,300 VND/kg.

Steel prices in the South

Steel prices in the South today also decreased by 100 VND/kg. Specifically:

Hoa Phat steel price, with CB240 coil steel line decreased by 100 VND/kg, down to 14,040 VND/kg; D10 CB300 ribbed steel bar decreased by 100 VND/kg, down to 14,430 VND/kg.

Pomina steel price with CB240 coil steel 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 coil steel stable at 14,010 VND/kg; D10 CB300 ribbed steel at 14,410 VND/kg.

Tung Ho Steel, with CB240 coil steel line stable at 14,210 VND/kg, with D10 CB300 rebar steel line at 14,510 VND/kg.

Information is for reference only, actual prices will vary by location!