Steel prices drop sharply on the stock exchange; High demand from China, rice prices continue to increase by 100 VND/kg
(Baonghean.vn) - Steel prices fell sharply on the trading floor, gold prices fell sharply; Meanwhile, high demand from China, rice prices continued to increase by 100 VND/kg, are information about the market situation today.
* Steel prices drop sharply on the stock exchange
Steel prices today (April 5) recorded a decrease of 97 yuan/ton on the exchange. Domestic steel prices are expected to reverse in the second quarter of 2023.
Today's steel price for October 2023 delivery on the Shanghai Stock Exchange fell 97 yuan to 3,987 yuan/ton.
Steel futures for January 2024 delivery fell 32 yuan to 3,956 yuan/ton.
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| Domestic steel prices are expected to decline in the second quarter of this year. |
In the recently updated steel industry stock outlook report, KBSV Securities emphasized that steel consumption demand continued to decline in the first quarter of 2023 and is forecast to remain flat in the second quarter of 2023.
Consumption output in the first two months of 2023 decreased compared to the same period, of which construction steel decreased by 28%.
KBSV assessed that the issuance of Decree 08/2023/ND-CP on regulations on offering and trading of individual corporate bonds will be a driving force to promote the recovery of the real estate market. However, in the short term, businesses will still face difficulties in cash flow due to the impact of debt, capital mobilized from bonds, as well as declining demand. Therefore, the steel industry's consumption output will remain low in the second quarter of 2023.
In the domestic market, steel prices were adjusted up 6 times in the first quarter of 2023 to ensure the cost of goods sold. Specifically, steel prices are estimated to increase by 10% compared to the fourth quarter of 2022, while iron ore prices increased by 23%, coke prices increased by 10%, scrap steel increased by 31%, and steel billets increased by 11%.
KBSV forecasts that selling prices and raw material prices will gradually decrease from now until the end of the year when supply is restored. Raw material prices will decrease in the coming quarters because major steel raw material exporting countries such as Brazil and Australia may need to lower their prices to attract customers when large consumption demand in China will also decrease to serve the goal of fighting climate change.
Along with that, businesses in the US also plan to restart blast furnaces to serve market demand with a shortage of supply recorded in the first quarter of 2023. Therefore, steel prices in the international market will also decline in the coming quarters in the context of restored supply but low consumption output when real estate demand in the US and China has not shown clear signs of recovery.
The gross profit margin of steel enterprises will improve compared to the fourth quarter of 2022. At present, Vietnamese steel enterprises have also controlled inventories to a low level, so they will also be able to control gross profit margins better in the coming time compared to the period of the fourth quarter of 2022.
*Gold price turns down
Gold price today (April 5): In contrast to domestic gold price, world gold price today increased rapidly, surpassing the 2,000 USD/ounce mark.
In the domestic market, before the opening of the trading session this morning (April 5), Saigon Jewelry Company listed at 66.45 - 67.05 million VND/tael (buy - sell), down 150 thousand VND/tael for both buying and selling compared to the previous trading session.
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In contrast to domestic gold prices, world gold prices today increased rapidly. |
Doji Group listed the price of SJC gold at 66.40 - 67.00 million VND/tael, down 150 thousand VND/tael for buying and selling.
Phu Quy Jewelry Company listed the price of SJC gold at 66.40 - 67.00 million VND/tael (buy - sell), down 200 thousand VND/tael for both buying and selling.
SJC gold price at Bao Tin Minh Chau Company Limited is traded by the enterprise at 66.40 - 66.90 million VND/tael (buy - sell).
Bao Tin Minh Chau's 24K Rong Thang Long gold price is listed at 55.13 - 56.08 million VND/tael.
On the international market, the world gold price at 10:00 p.m. last night was at 2,017.3 USD/ounce, up 32.92 USD or 1.66% compared to the previous trading session.
* High demand from China, rice price continues to increase by 100 VND/kg
Rice prices today (April 5) in the Mekong Delta increased by 100 VND/kg for finished rice. The market is bustling thanks to high demand from China.
Accordingly, at An Giang warehouse, the price of fresh sticky rice from An Giang is at 6,200 - 6,300 VND/kg; Dai Thom 8 is being purchased by traders in the field at 6,400 - 6,600 VND/kg; OM 18 is still at 6,400 - 6,500 VND/kg; Nang Hoa 9 is still at 6,100 - 6,200 VND/kg; IR 504 rice is 6,100 - 6,300 VND/kg; Long An fresh sticky rice is at 6,600 - 6,800 VND/kg; OM 5451 rice is 6,200 - 6,400 VND/kg; Long An dried sticky rice is 9,000 - 9,200 VND/kg, An Giang dried sticky rice fluctuates at 8,400 - 8,600 VND/kg and IR 504 dried rice remains at 6,500 VND/kg.
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Today, the price of finished rice continues to increase. Photo: Thu Huyen |
Regarding rice, today the price of finished rice continued to increase. Accordingly, the price of finished rice increased by VND 100/kg to VND 10,300/kg. The price of raw rice remained stable at VND 9,100/kg.
Regarding by-products, the price of IR 504 sheet is stable at 9,100 VND/kg; dry bran decreased by 100 VND/kg to 7,400 VND/kg.
At the retail market, rice prices remained stable after the adjustment session. Accordingly, regular rice is 11,000 - 12,000 VND/kg; Jasmine fragrant rice is 14,000 - 15,000 VND/kg; Soc regular rice is 15,000 VND/kg; glutinous rice is 16,000 - 18,000 VND/kg; Nang Nhen rice is 22,000 VND/kg; Common white rice is 14,500 VND/kg; Nang Hoa is 18,500 VND/kg; Soc Thai is 18,000 VND/kg; Taiwanese fragrant rice is 20,000 VND/kg; Japanese rice is 22,000 VND/kg; Bran is 7,500 - 8,000 VND/kg; Long grain Thai fragrant rice remains at 18,000 - 19,000 VND/kg and Jasmine rice at 19,000 VND/kg.
According to traders, today there is a lot of raw rice coming in, so there is a lot of demand. Rice and Japonica rice continue to be traded actively, in high demand, and prices are increasing.
On the world market, the export price of Vietnamese rice today remained unchanged after a sharp increase. Accordingly, 5% broken rice is at 468 USD/ton; 25% broken rice remains at 448 USD/ton.
According to Mr. Do Ha Nam - Vice President of the Vietnam Food Association, the demand for rice imports in the Chinese market is still good and is creating conditions for traders to increase the import of sticky rice and ST rice. 2023 is forecast to continue to be another successful year for the rice industry, the export price of rice this year may increase by 10% but the amount of rice will certainly decrease compared to last year and reach a maximum of about 6.5 million tons.
