Material prices today 14/2: Construction iron and steel prices today on the Shanghai Exchange
Steel price today delivered in May 2023 on the Shanghai Exchange fell 8 yuan to 4,023 yuan / ton.
The price of steel for October delivery in October 2023 on the Shanghai Exchange fell 40 yuan, to 3,944 yuan / ton.
Earlier, the price of DCIOcv1 iron ore for May delivery on China’s Dalian Commodity Exchange (DCE) ended daytime trading (February 13) 2.2% lower at 841.5 yuan. yuan/ton (equivalent to 123.23 USD/ton).
On the Singapore Exchange (SGX), the standard iron ore contract SZZFH3 for March delivery fell 3.5% to $120.35 a tonne.
On the Shanghai Futures Exchange (SHFE), the price of SRBcv1 rebar fell 1.6%, SHHCcv1 hot rolled coil fell 1.4%, SWRcv1 coil fell 1.7% and SHSScv1 stainless steel fell 0. 5%.
In a recent report, the Bank for Investment and Development of Vietnam Securities Joint Stock Company (BSC) expects that by 2023, steel consumption will have a recovery thanks to the removal of real estate policies.
However, the recovery rate of steel output will be slow because the domestic real estate market slows down when businesses need time to restructure projects, major economies are expected to continue to decline, dragging down the economy. according to reduced demand. Accordingly, BSC forecasts that total steel consumption will increase by 3-5% compared to 2022.
Steel prices in a downtrend in 2022 due to weak demand. In which, the price of steel at the construction plant decreased by 11%, the price of steel pipe decreased by 20%, the price of galvanized steel decreased by 10%. Retail steel prices may have a larger decrease as mills increase dealer discounts.
By the end of 2022, with steel enterprises increasing their prices once more and agent inventories at low levels, BSC believes that the steel market is temporarily balanced. In 2023, in the first quarter, BSC expects that the general steel price level can recover 2-3% over the same period due to seasonality and the world steel price recovers when China opens.
In the second and third quarters, steel price movements will depend on the level of recovery from steel demand. With the view that the speed of recovery in demand is still slow in 2023, steel supply may increase once more when China opens, BSC believes that steel prices may correct down once more.
Material prices today 14/2: Steel prices maintain a downward trend
BSC believes that most of the high-priced inventory has been liquidated in the last 6 months of 2022, because steel companies usually maintain enough raw materials for 3 months of sales, and have continuously cut capacity. from July, even closed furnaces like Hoa Phat and Pomina.
In addition, the industry’s steel inventory has reached the lowest level in 5 quarters. By the end of December 2022, steel inventories of all kinds decreased to 990,000 tons (down 29% over the same period last year). In which, construction inventories decreased by 28% over the same period last year, galvanized steel decreased by 16%, HRC/CRC decreased by 46%.
Besides, the price of raw materials for production has remained at a low level since July 2022, helping to reduce the cost of inventory in the coming time.
Therefore, BSC believes that corporate profits of the steel industry will improve in the first quarter of this year. In particular, Hoa Phat and Hoa Sen will have a better level of improvement than the rest thanks to focusing on the domestic market, so they can consume faster. At the same time, these two enterprises soon reduced their steel production capacity.
Domestic material prices today 14/2
On February 7, a number of steel manufacturing enterprises simultaneously raised 300,000 – 410,000 VND/ton with construction steel products, to regarding 15.5 – 16.5 million VND/ton. For some businesses, this is the fourth consecutive increase in steel prices since the beginning of 2023, according to Steel Online data.
Specifically, Hoa Phat steel company in the North raised VND 310,000/ton for CB240 coil and D10 CB300 rebar. The prices of these two products are currently at VND 15.76 million/ton and VND 15.84 million/ton, respectively.
Similar to the central region, CB240 and D10 CB300 steel coils also increased by 310,000 VND/ton, prices at 15.68 million VND/ton and 15.73 million VND/ton, respectively.
Particularly in the South, Hoa Phat also adjusted an increase of 410,000 VND/ton with CB240 coil and D10 CB300 rebar. Currently, the prices of these two products are VND 15.83 million/ton and VND 15.88 million/ton, respectively.
Meanwhile, Vietnam Italy steel brand increased by 310,000 VND/ton with CB240 and D10 CB300 coil lines, respectively, to 15.71 million VND/ton and 15.81 million VND/ton, respectively.
For Viet Duc steel company, CB240 coil line increased by 300,000 VND/ton, to 15.5 million VND/ton; while rebar D10 CB300 raised 310,000 VND/ton, currently priced at 15.81 million VND/ton.
With an increase of 300,000 VND / ton, the price of CB240 and D10 CB300 coils of Viet Nhat brand is at 15.88 million VND / ton.
With Pomina trade deal, CB240 coil line inched up 300,000 VND/ton, to 16.52 million VND/ton; and D10 CB300 rebar increased by 310,000 VND/ton, currently priced at 16.58 million VND/ton.
On February 7, a number of brands remained at the same price compared to the latest adjustment (January 31), including Southern steel, Tuyen Quang iron and steel, Vina Kyoei steel, Viet My steel…
Thus, this is the 4th consecutive increase of steel price since the beginning of the year. After being adjusted, the steel prices of the brands today are as follows:
Steel prices in the North
According to SteelOnline.vn, Hoa Phat steel brand following 7 days of stabilization increased its selling price, 2 of its products increased by 310 dong, including CB240 coil to 15,760 dong/kg; D10 CB300 rebar is priced at 15,840 VND/kg.
Vietnam Italy Steel also simultaneously increased by 310 dong, with CB240 coil at 15,710 dong/kg; D10 CB300 steel is priced at 15,810 VND/kg.
Viet Sing Steel changed its selling price, its two product lines, including CB240 coil, increased by 300 VND to 15,630 VND/kg; Rebar D10 CB300 increased by 400 VND, priced at 15,830 VND/kg.
VAS steel increased by 300 dong, currently CB240 coil and D10 CB300 rebar are both priced at 15,680 dong/kg.
Viet Nhat Steel increased by 300 dong, with CB240 coil and D10 CB300 rebar to a new price of 15,880 dong/kg.
Viet Duc steel brand, with CB240 steel coil increased by 300 VND to 15,500 VND/kg; with D10 CB300 rebar with the price of 15,810 VND/kg – an increase of 310 VND.
Material price today 14/2
Material price today 14/2
Steel prices in the Central region
Hoa Phat Steel simultaneously increased by 310 VND, with CB240 coil steel line up to 15,680 VND/kg; D10 CB300 rebar is priced at VND 15,730/kg.
Viet Duc Steel, CB240 coil line increased by 310 VND to 15,860 VND/kg; Rebar D10 CB300 increased by 300 VND, priced at 15,850 VND/kg.
VAS steel continued to be stable, with CB240 coil at 15,680 VND/kg; D10 CB300 rebar is priced at 15,580 VND/kg.
Pomina Steel, CB240 coil line increased by 300 VND to 16,520 VND/kg; rebar line D10 CB300 increased by 310 VND, priced at 16,580 VND/kg.
Material price today 14/2
Material price today 14/2
Steel prices in the South
Hoa Phat Steel increased sharply by 410 VND, with CB240 steel coil to 15,830 VND/kg; D10 CB300 rebar is priced at VND 15,880/kg.
VAS steel increased by 300 dong, currently CB240 coil is at 15,580 dong/kg; D10 CB300 rebar is priced at 15,680 VND/kg.
Tung Ho Steel, with CB240 coil at VND 15,530/kg; D10 CB300 rebar is priced at 15,480 VND/kg.
Pomina Steel, with CB240 coil line increased by 300 VND to 16,470 VND/kg; Rebar D10 CB300 increased by 310 VND, priced at 16,580 VND/kg.
Material price today 14/2
Material prices today 14/2
