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World Steel Price Update
At the close of trading on May 22, the price of June 2026 rebar futures on the Shanghai Futures Exchange fell 0.16% (5 yuan) to 3,146 yuan/tonne. On the Dalian Commodity Exchange, the price of June 2026 iron ore futures remained unchanged at 811.5 yuan/tonne. On the Singapore Exchange, the price of June 2026 iron ore futures rose $0.31 to $106.1/tonne but still recorded a 2.8% decrease for the week. Previously, the price had hit a new low since April 28 at $105.45/tonne.

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

Iron ore prices started the trading session in a volatile state, continuing to face downward pressure as the market prepared for a second consecutive week of declines. The prospect of significantly increased supply from major exporters and weakening seasonal demand is dampening the market, despite relatively strong short-term consumption in China, according to Reuters.

On the Dalian Commodity Exchange, the most actively traded iron ore contract ended the day down 0.13% at 792 yuan per ton (equivalent to $116.51 per ton). Overall for the week, prices fell 2.5%.

Price movements were heavily influenced by strong weekly shipments from Australia and Brazil, which are expected to significantly replenish inventories at major Chinese ports in the coming weeks.

According to Guiqiu Zhuo, an analyst at brokerage firm Jinrui Futures, the market is forming “a broad expectation that steel demand will weaken seasonally, while iron ore supply continues to increase from now until the end of the second quarter.” She believes the coincidence of increased supply and decreased demand will put downward pressure on prices, although current ore consumption is helping to limit a sharp decline.

Data from consulting firm Mysteel shows that average daily pig iron production – a measure of iron ore demand – increased 0.6% from the previous week to its highest level in seven months, reaching 2.41 million tons as of May 21st.

In the metallurgical fuels group, coking coal and coke production decreased by 3.69% and 2.2%, respectively. Galaxy Futures noted that coking coal inventories at some mills have recovered to reasonable levels after several rounds of accumulation. However, “some buyers showed unwillingness to accept higher prices, only supplementing to meet minimum needs, thereby putting downward pressure on coking coal prices.”

On the Shanghai Futures Exchange, key steel commodities also declined, with rebar falling 0.5%, hot-rolled coil losing 0.73%, wire rod down 0.12%, and stainless steel down 0.64%.

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

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

Steel prices recorded up to May 23, 2026. Source: SteelOnline

Source: Vietnambiz