deep drops on the stock exchange

Steel prices fell sharply on the Shanghai exchange.

Steel prices in the North

According to SteelOnline.vn, Hoa Phat steel brand, with CB240 coil steel line at 13,940 VND/kg; D10 CB300 ribbed steel bar is priced at 14,440 VND/kg.

Similarly, the Viet Y steel brand, CB240 rolled steel line stopped at 14,090 VND/kg; D10 CB300 ribbed steel bar was priced at 14,340 VND/kg.

Viet Duc Steel simultaneously reduced the prices of two of its products, with CB240 rolled steel at 14,040 VND/kg, and D10 CB300 ribbed steel at 14,540 VND/kg.

Viet Sing Steel, with CB240 coil steel priced at 13,850 VND/kg, D10 CB300 ribbed steel bar remains at 14,210 VND/kg.

VAS steel, with CB240 coil steel down to 14,160 VND/kg; D10 CB300 ribbed steel bar priced at 14,110 VND/kg.

Steel prices in the Central region

Hoa Phat Steel, with CB240 coil steel line remaining at 13,990 VND/kg; D10 CB300 ribbed steel bar priced at 14,440 VND/kg.

Viet Duc Steel, currently CB240 coil steel is at 14,490 VND/kg; D10 CB300 ribbed steel bar is priced at 14,900 VND/kg.

VAS steel, currently CB240 coil steel is at 14,210 VND/kg; D10 CB300 ribbed steel is priced at 14,260 VND/kg.

Pomina steel, with CB240 coil steel line at 14,690 VND/kg; D10 CB300 ribbed steel bar is priced at 15,300 VND/kg.

Steel prices in the South

Hoa Phat Steel, CB240 rolled steel is at 13,990 VND/kg; D10 CB300 ribbed steel is priced at 14,440 VND/kg.

VAS steel, CB240 coil steel line is at 14,310 VND/kg; D10 CB300 ribbed steel bar is priced at 14,210 VND/kg.

Pomina steel, CB240 coil steel line is at 14,590 VND/kg; D10 CB300 ribbed steel bar is priced at 14,990 VND/kg.

Steel prices on the exchange

The price of rebar futures on the Shanghai Futures Exchange (SHFE) for delivery in May 2025 fell sharply by 26 yuan to 3,658 yuan/ton.

With Asian spot iron ore prices falling below $60/mt, steelmaking raw material prices appear to be heading towards a level more in line with supply and demand fundamentals.

However, as always, the risk when a rally reverses as quickly as the current fall in iron ore is that prices overshoot the mark.

Spot prices in Asia fell to $59.65 a tonne on Wednesday, the lowest in 3.5 months and down 25% since the recent peak of $79.65 in late August.

Iron ore is now well below the $78.87 level reached at the end of 2016 and it is proving to be a volatile year, with two strong price rallies followed by sharp reversals.

Both the surge to a 2017 high of $94.86 a tonne in late February and the August peak were driven by optimism about surging steel output in China, which buys about two-thirds of global seaborne iron ore.

The latest drop in iron ore prices comes as some optimism about Chinese steel production and demand fades, especially amid factory closures as part of efforts to improve air quality ahead of a major conference of the ruling Communist Party that begins on October 18.

While prices have fluctuated, China’s import demand has remained remarkably stable. Imports in the first eight months of the year were 714 million tonnes, up 6.7% year-on-year, according to customs data.

Seaborne iron ore imports were 87.2 million tonnes in September, down slightly from 88.6 million tonnes in August, according to data.

There is a risk that iron ore imports could be slightly lower in the final quarter of this year, due to expected steel mill closures and ample inventory at Chinese ports, which rose to 133.8 million tonnes in the week to October 6.

Source: https://kinhtedothi.vn/gia-thep-hom-nay-ngay-22-6-giam-sau-tren-san-giao-dich.html