Steel prices today, May 19th: Domestic market stable, world iron ore prices fall across the board.
Domestic steel prices remained stable at 14,700-15,430 VND/kg, while global iron ore prices fell across the board due to weakening demand in China.
On May 19th, the domestic construction steel market saw sideways movement across most major manufacturers. Conversely, the prices of steel rebar and iron ore on international exchanges fell simultaneously due to pressure from slowing demand in China and increased global supply.
Domestic construction steel prices remain stable.
According to surveys of leading companies in the industry, construction steel prices today remain unchanged compared to the previous session. Specifically, the listed prices of some major brands are as follows:
| Trademark | Type of steel | Area | Listed price (VND/kg) |
|---|---|---|---|
| Hoa Phat | CB240 & D10 CB300 | Nationwide | 15,430 |
| Viet-Italian Steel | CB240 | North | 15,150 |
| Viet-Italian Steel | D10 CB300 | North | 14,700 |
| Viet Duc Steel | CB240 | North | 15,250 |
| Viet Duc Steel | CB300 | North | 15,050 |
In addition, other brands such as VJS, Pomina, and Southern Steel also maintained their selling prices, reflecting the cautious sentiment of the domestic market amidst significant fluctuations in global input material prices.
Global markets are under pressure to correct.
At the close of the most recent trading session, metal commodities on international exchanges all recorded declines. On the Shanghai Exchange, the price of June 2026 rebar futures fell by 21 CNY, or 0.6%, to 3,165 CNY/tonne. Similarly, the price of iron ore futures for the same period on the Dalian Exchange also fell by 0.4%, trading at 824.5 CNY/tonne.
In the Singapore market, the iron ore index also fell by $0.93, currently standing at $108.2 per ton. According to analysts, iron ore prices are under significant pressure as steel mills in China have completed their raw material stockpiling cycles. After the holiday, demand in the spot market slowed down noticeably, breaking the previous recovery momentum.
Challenges from supply and demand
Although blast furnace pig iron production in China remains high, providing short-term price support, a foundation for sustainable growth has yet to emerge. The Chinese steel industry is facing a persistent oversupply and declining real consumption. In the first quarter, both apparent production and consumption were lower than the same period last year.
Furthermore, pressure also comes from the supply side as the volume of iron ore arriving at Chinese ports has increased sharply. Exports from major mining corporations like BHP are gradually stabilizing after resolving trade negotiation obstacles. In the short term, iron ore prices are expected to continue fluctuating within a narrow range as steel mills enter their summer maintenance period, limiting room for further price increases.
