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World Steel Price Update

Opening trading on May 25th, the price of June 2026 steel rebar futures on the Shanghai Futures Exchange fell 0.5% (16 yuan) to 3,130 yuan/tonne. On the Dalian Commodity Exchange, the price of June 2026 iron ore futures fell 0.2% (1.5 yuan) to 810 yuan/tonne. On the Singapore Exchange, the price of June 2026 iron ore futures fell 0.6 USD to 105.5 USD/tonne.

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

The Chinese steel market will continue to face pressure due to high input material prices and the upcoming summer demand season, despite domestic steel prices having risen steadily since the second half of April.

This is according to the monthly report of the China Iron and Steel Association (CISA), as reported by Mysteel Global.

The association stated that the global economy is facing significant uncertainty due to geopolitical factors. Global energy prices have risen sharply due to conflicts in the Middle East, while the cost of key raw materials for steel production and energy continues to increase, reducing the profitability of the steel industry.

If the conflict in the Middle East continues to escalate and crude oil prices remain high or increase further, CISA believes that both sea freight costs and energy costs will rise, putting further pressure on the profitability of steel mills.

Furthermore, the Chinese steel market is expected to enter its low season soon during the summer, and demand from steel-consuming industries may decrease due to the rainy season in the South and the hot weather in the North, disrupting construction activities.

CISA warns that the supply-demand balance could worsen again if steel demand declines seasonally and mills fail to adjust production accordingly.

Therefore, steel producers need to closely monitor demand fluctuations and new developments in the Middle East, while continuing to control production and reduce inventories.

However, China's loose monetary policy, combined with accelerated fiscal spending, is expected to provide structural support for domestic steel demand in the second half of the year.

According to relevant documents released at the end of April, China aims to reduce its carbon emission intensity by more than 65% by 2030 compared to 2025 levels, with non-fossil fuels accounting for approximately 25% of its energy output. At the same time, the country also needs to improve energy efficiency in key industries, including steel production, CISA said.

These policy measures have reinforced expectations that the production capacity of integrated steel producers will continue to be limited. This is expected to encourage the gradual phasing out of outdated capacity and help improve the supply-demand balance in the steel market.

Domestic Steel Price Update

Construction steel prices at companies remain stable. Specifically, at Hoa Phat, CB240 and D10 CB300 steel are both 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 recorded CB240 and CB300 prices at 15,250 and 15,050 VND/kg respectively. Other businesses such as VJS Northern Steel, Pomina, and Southern Steel maintained stable prices.

Steel prices recorded as of May 25, 2026. Source: SteelOnline

Source: Vietnambiz