Steel prices fall for the fifth consecutive time, many agricultural products maintain growth momentum

Some steel enterprises have just announced price reductions for D10 CB300 rebar and CB240 coil steel, bringing domestic construction steel prices to a common level of 14-15 million VND/ton.

Specifically, according to Steel Online, compared to the adjustment at the end of April, the price of D10 CB300 rebar of Hoa Phat steel brand in the North decreased by another 100,000 VND/ton, down to 15.29 million VND/ton. Meanwhile, Hoa Phat's CB240 coil steel in the North remained at 14.9 million VND/ton.

In the Central region, Hoa Phat Steel also reduced the price of D10 CB300 rebar by VND100,000/ton to VND15.15 million/ton; the price of CB240 rolled steel was kept at VND14.9 million/ton.

Hoa Phat Steel's D10 CB300 rebar products in the South were also reduced by VND100,000/ton, down to VND15.45 million/ton.

Domestic steel prices continue to fall. Photo: Hoang Ha

Similarly, Viet Y Steel in the North decreased by VND100,000/ton for D10 CB300 rebar, down to VND15.2 million/ton; CB240 rolled steel was kept at VND14.62 million/ton.

Viet Duc Steel brand in the North also adjusted down 100,000 VND/ton for D10 CB300 ribbed steel bar, selling price is 15.15 million VND/ton; CB240 rolled steel price remains at 14.64 million VND/ton.

Tung Ho steel brand in the South decreased by 560,000 VND/ton, to 15.17 million VND/ton; CB240 rolled steel was reduced by 510,000 VND/ton, selling price is 14.92 million VND/ton.

Pomina Steel in the Central region adjusted the selling price of CB240 steel and D10 CB300 steel down by VND300,000/ton and VND310,000/ton, respectively, to VND15.5 million/ton and VND15.56 million/ton.

Thus, since the beginning of the year, domestic construction steel prices have recorded 5 consecutive decreases. In April alone, domestic steel products experienced 4 consecutive price decreases, with a total decrease of about 1-1.5 million VND/ton.

The Vietnam Steel Association (VSA) said that the continuous decrease in domestic construction steel prices in recent times is due to the decrease in global steel demand. Domestic steel consumption demand has also decreased sharply, forcing manufacturing enterprises to lower selling prices to quickly increase inventory.

In the international market, steel prices are on a downward trend. Today's steel price for October 2023 delivery on the Shanghai Stock Exchange fell 36 yuan to 3,599 yuan/ton.

Gasoline pricesToday (May 14), the world market recorded a decrease of about more than 1%, ending the third consecutive week of decline.

Gasoline prices have just been adjusted down.

Oil prices on the morning of May 14 (Vietnam time) specifically: US WTI crude oil price decreased by 1.21 USD to 69.99 USD/barrel, Brent oil price decreased by 1.2 USD to 74.06 USD/barrel.

Oil prices fell more than 1%, heading for a third straight weekly decline, as the market balanced supply concerns against fresh economic worries in the United States and China.

Both benchmarks fell about 1.5% from the previous week.

The domestic retail price of gasoline on the morning of May 14 was applied according to the adjustment session on May 11 by the Ministry of Finance - Ministry of Industry and Trade. Specifically, the price of RON 95-III gasoline decreased to VND 21,000, down VND 1,320/liter, and E5 RON 92 gasoline was VND 20,130, down VND 1,300/liter.

Prices of petroleum products also decreased simultaneously. Diesel oil is 17,650 VND/liter, down 600 VND. Kerosene has a new price of 17,970 VND/liter, down 550 VND; fuel oil has a new price of 14,860 VND/kg.

In this adjustment period, the regulatory agency decided to set aside 300 VND/liter for E5 gasoline, RON 95, DO oil, kerosene, and fuel oil. The regulator also decided not to spend the gasoline price stabilization fund, and set aside 500 VND/liter for E5 and RON 95 gasoline, and set aside 300 VND/liter for oil products. Thus, gasoline prices have decreased for the third consecutive time.

Since the beginning of the year, gasoline prices have undergone 14 price adjustments. Of these, 7 have increased, 6 have decreased, and 1 has remained unchanged.

Gold priceDomestically today, at the time of survey at 5:00 a.m. on May 14, on the trading floor of Saigon Jewelry Company SJC, SJC gold is 66.55 million VND/tael for buying and 67.25 million VND/tael for selling.

At Phu Quy Jewelry Company, at the time of survey, the listed price of SJC gold was at 66.55 - 67.15 million VND/tael (buy - sell).

DOJI listed the price of 9999 gold at 66.50 million VND/tael for buying and 67.10 million VND/tael for selling.

Vietinbank Gold price is listed at 66.55 million VND/tael for buying and 67.17 million VND/tael for selling.

The price of SJC gold at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 66.60 - 67.13 million VND/tael (buy - sell). The price of 24K Rong Thang Long gold of Bao Tin Minh Chau is listed at 56.48 - 57.48 million VND/tael in two directions.

Coffee priceDomestic prices today (May 14) increased sharply by 1,500 VND/kg compared to yesterday, currently fluctuating from 54,900 - 55,300 VND/kg.

Vietnam is the world's second largest coffee exporter.

Specifically, the price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province increased by 1,500 VND/kg, currently in districts such as Bao Loc, Di Linh, Lam Ha, it is purchased at a price of 54,800 - 54,900 VND/kg.

Coffee prices in Gia Lai and Kon Tum provinces increased by VND1,400/kg, standing at VND55,200/kg.

In Dak Nong province, coffee was purchased at 55,300 VND/kg, an increase of 1,400 VND/kg.

Figures from the General Department of Customs show that Vietnam's coffee exports in April only reached 163,607 tons, down 22.23% compared to the previous month, bringing coffee exports in the first four months of the year to a total of 716,580 tons (about 11.94 million bags), down 5.53% compared to the same period last year.

This has caused the market to continue to face the possibility of a short-term shortage of Robusta supply. Currently, domestic and international coffee prices are at a high level compared to recent years, creating an opportunity for Vietnam to maintain a coffee export turnover of over 4 billion USD, a record set in 2022.

Pig priceToday (May 14) moved sideways across the board and recorded a peak of 56,000 VND/kg. The price of hogs is commonly at 76,000 - 77,000 VND/kg.

In some localities, the price of live pigs has reached 56,000 VND/kg.

In the Northern region, the price of live pigs today did not record any new fluctuations compared to the previous day and fluctuated between 53,000 - 55,000 VND/kg.

One price lower, 54,000 VND/kg is the price being purchased by traders in a series of localities including Bac Giang, Hung Yen, Thai Nguyen, Phu Tho, Vinh Phuc, Hanoi, Tuyen Quang. The lowest price in the region of 53,000 VND/kg is recorded in localities including Yen Bai, Lao Cai, Nam Dinh, Ha Nam, Ninh Binh.

One price lower, 55,000 VND/kg is the price of live pigs purchased by traders in Lam Dong and Binh Thuan. 53,000 VND/kg - the lowest price in the region - was recorded in a series of localities including Thanh Hoa, Ha Tinh, Thua Thien Hue, Khanh Hoa, Ninh Thuan. In other localities in the region, the common price of live pigs is 54,000 VND/kg.

In general, over the past week, the price of live pigs has been increasing across the board in most provinces and cities. The price increase has generally been between VND1,000 and VND2,000 per kilogram, and in some localities, the price of live pigs has exceeded VND55,000 per kilogram.

In addition, rice prices also increased sharply by 400 VND/kg. Some other agricultural products maintained their price increases from the beginning of the week such as tea, vegetables, tubers, and fruits.