Steel prices today increased to 3,453 yuan / ton on the Shanghai Exchange. So far, iron ore futures on the Dalian Exchange are down 29% from their June peak of 890 yuan a tonne.
Construction iron and steel prices today on the Shanghai Exchange
See also: Construction iron and steel prices today 3/11
Steel price today delivered in January 2023 on the Shanghai Exchange increased 11 yuan to 3,453 yuan / ton at the time of survey at 10 am (Vietnam time).
Futures price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
Iron ore prices on the Dalian Exchange (DCE) rose on Tuesday on technical support after a sharp drop in October, but the poor demand outlook in China has cooled. affect psychology, Reuters reported.
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Iron ore futures chart at Shanghai Exchange. (Source: SHFE)
Accordingly, the price of iron ore for delivery in January 2023 on DCE closed with an increase of 2.5%, reaching 628 yuan/ton (equivalent to 86.30 USD/ton).
Earlier in the session, the contract fell 2.2% to 599.50 yuan/ton. This is the lowest level recorded since July 22.
The iron ore contract is down 29% so far from its June peak of 890 yuan a tonne amid strict COVID-19 restrictions and a slowdown in China's real estate sector. .
In October alone, the contract fell 15.3%, marking the highest monthly decline since February 2020.
On the Singapore Exchange (SGX), iron ore for December delivery rose 0.3 percent to $77.40 a tonne on the same day, down more than 50 percent from its April high of over $160. /ton.
China's factory activity slowed in October, weighing heavily on the demand outlook for metals and suggesting a weaker economic recovery in the fourth quarter.
“China’s 600 yuan is psychological support for the iron ore contract on the DCE Exchange,” said Marex analyst Zenon Ho.
He added: “The next target will be 550 and then 500 yuan, but rebar has run out of support. The only thing that supports is the mills' statement that they will not deliver rebar or hot rolled coil for less than 3,400 yuan."
Construction steel price today in the domestic market
According to SteelOnline.vn, the domestic construction steel price on November 2 remained unchanged, specifically as follows:
Steel prices in the North
CB240 coil of Hoa Phat steel brand continues to be sold at the price of 14,500 VND/kg and D10 CB300 rebar at 14,600 VND/kg.
The price of CB240 coil and D10 CB300 rebar of Vietnam Italy steel brand were stable at 14,510 VND/kg and 14,720 VND/kg, respectively.
For Viet Duc steel, the selling price of CB240 coil is currently at VND 14,350/kg and the price of D10 CB300 rebar is at VND 14,660/kg.
Steel price of Viet Sing brand was also kept unchanged today: CB240 coil at VND 14,310/kg and D10 CB300 rebar at VND 14,510/kg.
Similarly, the price of CB240 steel coil of Vietnam-Japan steel brand was also stable at 14,310 VND/kg and the price of D10 CB300 rebar at 14,510 VND/kg.
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Steel prices in the Central region
In the Central region, Hoa Phat is offering CB240 coil price of 14,310 VND/kg and D10 CB300 rebar price is 14,820 VND/kg.
Viet Duc steel brand also kept CB240 coil price stable at 14,350 VND/kg and D10 CB300 rebar price at 14,660 VND/kg.
Pomina's CB240 coil price continued at VND 15,730/kg. Similarly, the price of D10 CB300 rebar of the same brand remained unchanged at VND 15,940/kg.
Ảnh: SteelOnline
Steel prices in the South
In the South, Hoa Phat's CB240 coil price is at 14,360 VND/kg and D10 CB300 rebar price is at 14,570 VND/kg.
Pomina brand also has a stable price of CB240 coil at VND 15,580/kg and a price of D10 CB300 rebar at VND 15,680/kg.
The price of Southern Steel brand is also stable, with the price of CB240 coil and D10 CB300 rebar at 15,220 VND/kg and 15,530 VND/kg, respectively.
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