The price of rebar was 3,943 yuan/ton ($566/ton), down 1% from September 13 and also the lowest level in a week. Cold rolled coil was 4,393 yuan/ton ($630/ton), down 0.2% from the previous day.
The price of 62% Fe ore of Australian origin was 771 yuan/ton ($110/ton), down nearly 1% from the previous day. Ore prices are also at their lowest in a week.
According to Mining.com, China imported 96.2 million tons of ore in August, compared with 91.2 million tons in July. The import volume is causing supply to exceed demand and inventories at ports are increasing. Specifically, inventories were at 143 million tons on September 2.
Regarding non-ferrous metals, prices of many types also went down. Silver price was 4,375 yuan/ton ($628/ton), down 1.3% from the previous day. Copper prices also fell 1% to 63,188 yuan per tonne ($9,076 per ton). Nickel recorded a decrease of 0.8% to 194,600 yuan/ton ($27,944/mt).
On the domestic market, on the afternoon of September 13, many businesses announced an increase in construction steel prices, the highest to 880,000 VND/ton and the third increase in a row after 15 decreases. Today's price has not changed since September 13.
Vietnam Japan Steel increased by 880,000 VND/ton and 470,000 VND/ton respectively for CB240 coil and D10 CB300 rebar. After adjustment, the current prices of these two steels are respectively VND 15.02 million/ton and VND 15.22 million/ton.
In the North, Hoa Phat adjusted to increase by 400,000 VND/ton for CB240 coil, while D10 CB300 rebar remained unchanged at 15.12 million VND/ton. After adjustment, CB240 price is 14.82 million VND/ton.
With Vietnam Italy steel, CB240 and D10 CB300 respectively increased by 400,000 VND/ton and 110,000 VND/ton to 15.12 million VND/ton and 15.33 million VND/ton, respectively. Regarding Viet Duc steel, the above two types of steel increased by 400,000 VND/ton and 200,000 VND/ton to 15.12 million VND/ton and 15.63 million VND/ton.
Thus, after three increases, the total increase of steel price is about more than 2 million VND/ton.
Reporter