Steel prices have dropped to unprecedented lows

Material price today 4/25: Steel prices plummeted, down to 166 yuan/ton

The price of steel for delivery in October 2022 on the Shanghai Exchange today (April 25) decreased by 166 yuan compared to the previous session, to 4,849 yuan / ton.

According to S&P Global Platts’ report on iron ore and steel prospects, iron ore prices are expected to remain at high levels in the second quarter, due to increased steel production and reduced steel inventories.

About 61% of market participants believe that iron ore prices will fluctuate between 140 – 160 USD/mt CFR in the second quarter.

Meanwhile, another 17% think iron ore prices will be higher in the range of 160 – 180 USD/mt CFR.

Research conducted by S&P Global Platts shows that 65% of participants expect demand for iron ore to be higher than in the first quarter, while 22% expect demand for the commodity to be lower.

On April 25, domestic steel brands continued to stabilize prices 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 extends a stable series of 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.

Forecasting businesses steel price in 2022 is still at a high level, ranging from $840-850/ton or more. This is because production costs, transportation costs, coal prices, energy prices and even ore prices have increased to very high levels, thereby creating high cost of goods for HRC (rolled coil) steel producers. hot).