Steel prices continue to fall deeply

Steel price October 2022 delivery on the Shanghai Exchange today (May 7) decreased 127 yuan, to 4,727 yuan / ton.

Earlier, at the close of the session on May 6, iron ore prices on the Dalian and Singapore exchanges fell more than 5%, as China stepped up its response to the tough Covid-19 policy that affected economic activity, causing traders are more cautious.

Iron ore price September 2022 term on Dalian bourse fell 5.1% to 825 yuan ($123.47) a tonne, after four sessions of gains.

At the same time, the price of iron ore for June 2022 on the Singapore Exchange decreased by 5.4% to 137.45 USD/ton and had the 5th consecutive week of decline.

Spot price of 62% Fe iron ore to China was at $144.5/ton, unchanged from the previous week. Since the beginning of the year, spot iron ore prices have increased by 18%, according to information published by consulting firm SteelHome.

On the Shanghai Stock Exchange, prices for rebar, hot rolled coil and stainless steel all fell 3.7% each.

Steel prices on May 6, delivered in October 2022 on the Shanghai Exchange fell 62 yuan to 4,852 yuan/ton.

Domestic, steel price today (7/5) continues to stand at a high level. Steel prices in the South: Hoa Phat Steel continued to maintain stability. Specifically, with CB240 coil line currently at 18,990 VND/kg; D10 CB300 rebar is priced at 19,090 VND/kg.

Pomina Steel stabilized its selling price for 27 consecutive days, with its 2 product lines including CB240 coil at VND 19,430/kg; D10 CB300 rebar is priced at 19,630 VND/kg.

VAS steel chain with stable selling price continued to be recorded. CB240 coil line is currently at 18,890 VND/kg; with D10 CB300 rebar reached 18,990 VND/kg.

Tung Ho Steel, with the CB240 coil line, is priced at VND 18,980/kg; D10 CB300 rebar is currently priced at 19,130 ​​VND/kg.

Steel prices in the North: Hoa Phat steel brand prolongs a series of stable days. Specifically, CB240 steel coil stabilized at 18,940 VND/kg; D10 CB300 rebar is priced at 19,040 VND/kg.

Vietnam Italy Steel recorded a stable price. CB240 coil line is currently at 18,890 VND/kg; D10 CB300 rebar line is priced at 18,990 VND/kg.

Viet Duc steel brand has no price fluctuations. With 2 product lines of the company including CB240 steel coil at 18,880 VND/kg; and D10 CB300 rebar is priced at 19,180 VND/kg.

VAS steel continues to maintain the highest price in the past 30 days, CB240 coil line is at 18,180 VND/kg; D10 CB300 rebar line is priced at 18,280 VND/kg.

Vietnam Japan Steel has stopped increasing its price since March 16, with CB240 coil at VND 18,820/kg; D10 CB300 rebar is priced at 18,920 VND/kg.

Viet Sing Steel, with 2 products including CB240 coil, reached VND 18,820/kg; rebar line D10 CB300 is priced at 19,030 VND/kg.

Steel prices in the Central region: Hoa Phat Steel today (April 12) is stable. CB240 coil line is currently at 18,990 VND/kg; D10 CB300 rebar is priced at 19,090 VND/kg.

Viet Duc Steel has stopped increasing prices since March 16. Specifically, with 2 products of the company, including CB240 steel coil, currently at VND 18,980/kg; D10 CB300 rebar is priced at 19,280 VND/kg.

VAS steel recorded a stable selling price. Currently, CB240 coil line is priced at 18,790 VND/kg; Rebar D10 CB300 reached 18,840 VND/kg.

Pomina steel, with CB240 coil line, was stable at 19,380 VND/kg; and D10 CB300 rebar is priced at 19,580 VND/kg.

Iron and steel imports in the first quarter of 2022 decreased in volume but increased in turnover. According to preliminary statistics of the General Department of Customs, in the first quarter of 2022, the whole country imported over 3.01 million tons of iron and steel, equivalent to over 3.14 billion USD, the average price reached 1,043.5 USD/ton. decreased by 18% in volume, but increased by 18.4% in turnover and increased by 45% in price compared to the first quarter of 2021.

The most imported iron and steel into Vietnam came from China, with 978,998 tons, equivalent to 998.85 million USD, priced at 1,020.3 USD/ton, a sharp decrease of 48% in volume, down 21.4% in turnover, but increased sharply by 51% in price compared to the same period in 2021, accounting for 32.5% of the total volume and accounting for 31.8% of the total import turnover of iron and steel of the country.

Behind the main market of China is the Japanese market with 469,952 tons, equivalent to $462.62 million, the import price is $984.4/ton, down 7.6% in volume but up 25.3% in metal. turnover, an increase of 35.6% in price over the same period in 2021, accounting for over 15.6% of the total volume and 14.7% of the total turnover.

Followed by the Korean market with 339,240 tons, worth $425.55 million, priced at $1,254/ton, down 14.8% in volume, but up 18.4% in turnover and 39% in price compared to In the first quarter of 2021, accounting for 11.3% of the total volume and 13.5% of the total import turnover of iron and steel of the country.

Umbrella domestic steel price Although the cost of raw materials and transportation charges skyrocketed, the profits of most steel companies in the first quarter of 2022 went down.

Data from the Vietnam Steel Association (VSA) shows that in the first quarter of this year, finished steel consumption reached 8.137 million tons, up 11.9% over the same period in 2021. In which, steel exports reached about 2,275 million tons, export value reached 2.3 billion USD, down 22.15% in volume but up 12.53% in value over the same period. However, the business performance of many enterprises in the industry did not fluctuate in the same direction.

The first quarter business results report of Vietnam Steel Corporation – VNSteel (code TVN) showed a sharp decline in profit at member units, especially in the construction steel and galvanized steel segments.

VNSteel said that in the coming time, world raw material prices will continue to rise when supply is tight, rising costs will continue to affect the unit’s purchase of raw materials, and steel business performance. continue to be affected.