Steel price today increased to 3,751 yuan / ton on the Shanghai Exchange. In the past week, construction rebar recorded a slight decline of 0.8%, ending the previous 6 consecutive rising sessions.

Steel prices today

Steel prices for October delivery on the Shanghai Exchange increased 48 yuan to 3,751 yuan / ton at the time of the survey at 10:00 (Vietnam time).

In the past week, construction rebar prices recorded a slight decline of 0.8%, ending the previous 6 consecutive rising sessions. HR coil price is also down 0.5% and stainless steel is down 0.9% respectively.

Besides, coking coal and coking coal price also dropped 1.1% and 1.8%.

On Dalian Floor, ending the session on Friday (July 11), iron ore price reached 790.5 yuan / ton (equivalent to 112.79 USD / ton), down 0.1% from the with the previous session. Also in the past week, the price of iron ore has increased by 6.3%, the largest weekly increase since May 22.

On the Singapore Exchange, the iron ore contract in August adjusted down 0.3% to $ 102.82 / ton in the afternoon session on the same day, marking the first decline after 6 consecutive up sessions.

According to data from SteelHome, the spot iron ore price of 62% increased 62% to 107 USD / ton on July 10, the highest increase since August 2019.

Ray Attrill, head of the National Bank of Australia, said strong demand in China and disruptions in supply in Brazil have caused iron ore prices to soar in recent days.

According to market sources, steel futures contracts reached their highest level on September 10 due to the easing of credit restrictions and demand for steel products. to tell.

October steel futures contract closed at the highest session at 3,726 yuan / ton (535 USD / ton) on 9/7, up 106 yuan / ton compared to 3/7.

In China, the Government has loosened monetary policies, cut interest rates and increased investment in infrastructure to promote economic activity after the COVID-19 pandemic.

A stock investor in Hong Kong said demand for rebar in China is expected to increase in September and October as the supply of currency is on the rise. Accordingly, iron and steel prices will be pushed up in the coming months.



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In the first 5 months of 2020, loans increased to 10.3 trillion yuan from 2.3 trillion yuan recorded a year earlier. The average interest rate for micro and micro bank loans has dropped by 42 points since the end of 2019.

July in China is usually a break from the construction industry due to heavy rains in the East and the South of the country. It is expected that steel demand will recover in September, when the weather is more stable.

According to information from Platts, the construction of Xiong'an New Area (Hung An Tan Area) in Hebei Province as well as other projects in Beijing and Tianjin will work to maintain stable steel consumption. in this country.

In India, steel producer Steel Agency of India Limited (SAIL) recorded the highest export in June, reaching 3.4 tons of steel. Besides, this company also sold 42,000 tons of cast iron in the same period.

India's steel minister, Dharmendra Pradhan, said SAIL's record steel sales and export volumes were indicative of a strong economic recovery. India seems to be turning every challenge into an opportunity, AMN reported.

Source: vietnambiz.vn