August gas prices increase again; Domestic gold, steel, coffee prices continue to decrease

World gold price drops sharply to 1,893 USD/oz

Gold price today, August 17, spot gold price on Kitco floor, decreased by 14.7 USD/oz to 1,893 USD/oz, equivalent to 55.02 million VND/tael.

In the world market, gold prices continued to decrease. Early morning of August 17 (Vietnam time), the spot gold price on Kitco floor was 1,893 USD/oz, down 14.7 USD/oz compared to late afternoon of August 16.

Converting world gold price according to foreign exchange rate at Vietcombank: 1 USD = 24,125 VND, world gold price is equivalent to 55.02 million VND/tael, 12.53 million VND/tael lower than SJC gold selling price at the end of August 16.

At the end of the trading session on August 16, Saigon Jewelry Company listed the buying price of gold at VND66.95 million/tael; the selling price was VND67.55 million/tael, unchanged in both buying and selling compared to the opening time of the morning session of the same day. The difference in the selling price of gold is still VND600,000/tael higher than the buying price.

At the same time, DOJI Group listed the buying and selling price of gold at 66.85 - 67.6 million VND/tael. Compared to the beginning of the morning session on August 16, the buying and selling price of gold at DOJI decreased by 50,000 VND/tael in both buying and selling directions. The difference between buying and selling prices of gold at DOJI is maintained at 750,000 VND/tael.

Gas prices in August increased again after 2 consecutive months of decrease

In the domestic market, gas prices in August increased again after 2 consecutive months of decrease. Specifically, the retail price of Petrolimex gas cylinders (including VAT) in August 2023 in the Hanoi market is 380,160 VND/12 kg household cylinder; 1,520,640 VND/48 kg industrial cylinder, respectively increasing by 26,360 VND/12 kg cylinder and 105,640 VND/48 kg cylinder (including VAT).

Similarly, the gas price of Pacific Petroleum Trading Joint Stock Company increased by VND26,000/12kg cylinder and VND108,000/50kg cylinder. Accordingly, the maximum retail price to consumers of this brand is VND411,000/12kg cylinder and VND1,711,000/50kg cylinder.

Vietnam LPG Trading Joint Stock Company, Southern branch, since August 1, the gas price of this brand has increased by 26,000 VND/12kg cylinder and 97,515 VND/45kg cylinder.

Thus, after 3 consecutive months of peaking, each 12 kg gas cylinder increased by 72,000 VND, then in June 2022, it suddenly turned around and decreased sharply by 31,000 VND and continued to decrease by 18,500 VND in July. However, in August, gas prices continued to increase again after 2 consecutive months of decrease.

Rebar steel reduced from 100,000 - 210,000 VND/ton

Today's steel futures price for May 2024 delivery on the Shanghai Futures Exchange increased by 22 yuan to 3,642 yuan/ton. EU initiates anti-dumping investigation on cold-rolled stainless steel

Domestically, rebar prices have decreased by VND100,000 - 210,000/ton. Specifically, some domestic steel brands have adjusted prices down by VND100,000 - 210,000/ton for D10 CB300 rebar, while CB240 coil steel remains the same price.

In this price reduction, Hoa Phat Steel reduced the price of D10 CB300 rebar by VND100,000/ton in all three regions. The adjusted prices in the three regions are VND14.04 million/ton, VND13.99 million/ton and VND13.89 million/ton, respectively. The price of CB240 coil steel remains the same as the previous adjustment.

Similarly, steel brands in the North such as Viet Duc, Viet Sing, Viet Nhat, and Kyoei all adjusted the price of D10 CB300 steel by VND 100,000/ton.

In the Central region, the price of D10 CB300 rebar decreased by VND100/kg at Viet Duc and Viet My brands. The Pomina brand alone decreased by VND210,000/ton, from VND14.69 million/ton to VND14.59 million/ton.

In the South, the price of D10 CB300 rebar steel decreased by 100,000 VND/ton.

Domestic coffee prices continue to fall

Domestic coffee prices continued to decrease compared to the previous trading session. Coffee prices tended to decrease sharply compared to last week from 1,000-2,600 VND/kg depending on the locality. Reaching an average price of 65,300 VND/kg.

In Dak Lak province, in Cu M'gar district, coffee price is currently at 65,500 VND/kg. In Ea H'leo district, Buon Ho town, it is purchased at the same price of 64,500 VND/kg.

World coffee prices, on the world exchange, Robusta coffee prices on the London exchange (UK) in the most recent trading session continued to plummet, fluctuating from 2,597 - 2,625 USD/ton depending on the delivery period.

Arabica coffee prices on the New York Stock Exchange (USA) in the latest trading session decreased by -1.22% % from 148.00 - 151.30 cents/lb depending on the delivery term. Of which, coffee for delivery in September 2023 reached 149.25 cents/lb; delivery in December 2023 reached 151.35 cents/lb; coffee for delivery in March 2024 reached 152.70 cents/lb and coffee for delivery in May 2024 reached 154.00 cents/lb.

Robusta coffee prices on the ICE Europe - London exchange continued to plummet, while Arabica coffee prices decreased by 1-3 cents/lb compared to the most recent trading session.