Construction steel price today 10/1: continue to increase on the trading floor

Steel prices in the North

Hoa Phat steel brand with 2 products including CB240 coil and D10 CB300 rebar with the price of 16,410 VND/kg.

Vietnam-Italy steel brand has not changed since December 30. Specifically, CB240 coil line is currently at 16,360 VND/kg; D10 CB300 steel is priced at 16,310 VND/kg.

Viet Duc Steel still maintains a stable selling price, with CB240 coil at 16,440 VND/kg; and D10 CB300 rebar is currently priced at 16,490 VND/kg.

VAS steel with CB240 coil line at 16,410 VND/kg; D10 CB300 rebar is priced at 16,360 VND/kg.

Viet Sing Steel includes CB240 coil line, keeping the price unchanged at 16,190 VND/kg; D10 CB300 rebar is currently priced at 16,240 VND/kg.

Viet Nhat Steel, with CB240 coil line at 16,390 VND/kg; Rebar D10 CB300 has no change, currently priced at 16,190 VND/kg.

Steel prices in the Central region

Hoa Phat Steel continued to be stable, with CB240 coil at 16,460 VND/kg; Rebar D10 CB300 remained unchanged at 16,360 VND/kg.

Viet Duc steel brand including CB240 coil and D10 CB300 rebar has no change for 11 consecutive days from December 30, with the original price of VND 16,600/kg.

VAS steel with CB240 coil line at 16,210 VND/kg; D10 CB300 rebar is priced at 16,110 VND/kg.

Pomina Steel, with its 2 products including CB240 coil, is currently at 16,550 VND/kg; Rebar D10 CB300 maintains the selling price of 16,600 VND/kg.

Steel prices in the South

Hoa Phat Steel in the southern market has not changed, with 2 products of the company including CB240 coil line currently at 16,310 VND/kg; D10 CB300 rebar is priced at 16,260 VND/kg.

Tung Ho steel brand, from December 31, both products have no change. Specifically, CB240 coil line at 16,140 VND/kg; D10 CB300 rebar is priced at 16,290 VND/kg.

Vnsteel steel in the southern market remains the same selling price compared to yesterday, its two products are CB240 coil at 16,500 VND/kg and D10 CB300 rebar currently priced at 16,400 VND/kg.

Pomina steel with CB240 coil is currently at 16,460 VND/kg; D10 CB300 rebar is priced at 16,460 VND/kg.

Steel price on the exchange

The price of steel for delivery in October 2022 on the Shanghai trading floor increased 32 yuan to 4,318 yuan / ton. In 2021, iron ore prices fluctuated wildly when they hit a record high of $235.55 a tonne in May, but then plummeted to a 16-month low of around $85 a tonne in November.

As the new year 2022 begins, it is certain that price volatility will continue to mark the iron ore trade. And one factor affecting prices will be China's steel usage and production behavior, especially in the construction and real estate sectors.

According to the World Steel Association (WSA), China's steel production in 2021 decreased by 22% year-on-year to 69.3 million tons in November, and the cumulative output from January to November decreased by 2. 6% to 946.4 million tons.

This volatility stems from the expectation of a strong recovery in steel demand, mainly in the infrastructure construction sector after the global second Covid-19 wave.

At the same time, prices are also affected by Beijing's decree that the steel industry must limit emissions leading to production control. In the end, iron ore prices have fallen nearly 30% from their opening prices in January 2021.

WSA will release December manufacturing figures in the third week of this month. However, whatever happens, China's steel output in 2021 will be well below the record 1.065 billion tons in 2020.

Economy & Urbanism