Mô tả

World Steel Price Update
At the close of trading on May 18th, the June 2026 rebar futures price on the Shanghai Futures Exchange fell 0.6% (21 yuan) to 3,165 yuan/tonne. On the Dalian Commodity Exchange, the June 2026 iron ore futures price decreased slightly by 0.4% (3.5 yuan) to 824.5 yuan/tonne. On the Singapore Exchange, the June 2026 iron ore futures price fell by $0.93 to $108.2/tonne.

Price movements of May 2026 rebar futures on the SHFE. Source: Barchart

At the end of April, the iron ore market was strongly affected by Chinese steel producers preparing for the International Labor Day holiday. After completing pre-holiday stockpiling, spot market activity slowed and expectations of declining demand put pressure on prices. However, the decline was short-lived; by April 29-30, prices recovered thanks to improved sentiment in both the futures and physical markets, along with stable billet prices in Tangshan, according to GMK Center.

Demand from Chinese steel mills remained a key supporting factor. Improved blast furnace pig iron production and profit margins of steel producers boosted raw material purchases, especially after market participants returned to work after the weekend. On May 6, prices surged due to pent-up post-holiday demand, increased trading activity in the futures market, and limited supply of high-quality ore at Chinese ports. The shortage of high-grade ore has supported the price differential, although supplies of medium and low-grade raw materials remain fairly abundant.

However, the market still lacks a sufficiently strong fundamental base to sustain a clear upward trend. The Chinese steel industry continues to face steel oversupply, weak exports, and declining actual consumption demand. In the first quarter, both steel production and apparent consumption in China decreased year-on-year, while calls from industry organizations to control production have increased the risk of administrative restrictions on iron ore demand.

On the supply side, pressure comes from high export volumes from major mining companies and an increase in ore arrivals at Chinese ports. Another factor is the gradual return to normal for BHP's raw material flows after some restrictions related to negotiations with China Mineral Resources Group were lifted. This increases expectations of raw material availability and restrains further price increases.

Geopolitical factors are primarily impacting the market indirectly. Tensions in the Middle East are increasing energy costs for steel producers, while expectations related to US-China trade talks are influencing market sentiment more than actual supply and demand. By mid-May, market participants were increasingly describing the situation as “strong expectations but weak realities,” infrastructure stimulus packages and macroeconomic optimism were supporting prices, but the recovery in steel demand ultimately remained slow.

In the short term, iron ore prices may remain relatively stable thanks to high blast furnace pig iron production and support from the steel market. However, further upside potential is quite limited, pig iron production in China is likely to have peaked, and in the summer some blast furnaces and steel mills may enter seasonal maintenance. This, coupled with increased seaborne supply, could continue to put pressure on prices.

Domestic Steel Price Update
Construction steel prices at various companies remain stable. Specifically, at Hoa Phat, both CB240 and D10 CB300 steel are priced at 15,430 VND/kg.

Similarly, Viet Y Steel (Northern Vietnam) recorded CB240 and D10 CB300 steel prices at 15,150 and 14,700 VND/kg respectively. Viet Duc Steel (Northern Vietnam) recorded CB240 and CB300 prices at 15,250 and 15,050 VND/kg respectively. Several other companies such as VJS Steel (Northern Vietnam), Pomina, and Southern Steel maintain stable prices.

Steel prices recorded as of May 19, 2026. Source: SteelOnline

Source: Vietnambiz