Steel prices today, January 24th: World iron ore prices recover to $114/ton, domestic steel prices remain stable.
After a prolonged decline, international iron ore prices rebounded by 1.21%, stimulating buying activity. In Vietnam, major brands maintained the prices of construction steel.
Steel and iron ore prices on international exchanges recovered on January 24th, ending a prolonged losing streak. In contrast to the volatile global market, domestic construction steel prices remained stable, maintaining a consistent level after recent adjustments.
Global markets: Iron ore ends six-session losing streak.
On the Dalian Commodity Exchange (DCE), the May iron ore futures contract – the most actively traded contract – rose 1.21% to 795 yuan per ton, equivalent to $114.16 per ton. Despite the recovery today, the contract still recorded a 2.82% decrease for the week as a whole.
At the Shanghai Futures Exchange (SHFE), the price of rebar for September 2026 delivery also rose by 18 yuan, reaching 3,189 yuan/tonne. Similarly, at the Singapore Exchange, the price of iron ore for February delivery increased by 0.97% to $104.65/tonne. The recent cooling of raw material prices has eased pessimistic sentiment, creating favorable conditions for steel mills to increase purchases to maintain profit margins before the Lunar New Year holiday.
Prospects for consumer demand and infrastructure investment
A report from ANZ published on January 23rd stated that, although the Chinese real estate market still faces many challenges, investment in fixed asset infrastructure is projected to grow more strongly than expected. This is seen as a key factor in partially offsetting the demand for construction steel in 2026.
In addition, other raw materials also recorded positive growth trends. On the DCE exchange, coking coal prices increased by 2.84% and metallurgical coal by 2.59%. On the SHFE exchange, rebar prices increased by 0.58%, hot-rolled coil prices increased by 0.52%, and wire rod prices increased by 0.38%, while stainless steel prices remained unchanged.
Domestic construction steel prices remain stable.
In the Vietnamese market, according to data from SteelOnline, steel prices remained unchanged in all three regions today. Major businesses continue to list stable prices while monitoring market demand signals.
Below is a price list for construction steel surveyed in the Northern region today:
| Trademark | Type of steel | Listed price (VND/kg) |
|---|---|---|
| Hoa Phat | CB240 steel coil | 14,010 |
| Hoa Phat | D10 CB300 ribbed steel bar | 14,010 |
| Vietnam Italy | CB240 steel coil | 13,940 |
| Vietnam Italy | D10 CB300 ribbed steel bar | 13,840 |
| Viet Duc | CB240 steel coil | 14,000 |
| VAS | D10 CB300 ribbed steel bar | 13,600 - 13,800 |
In Central Vietnam, Hoa Phat steel is trading at 13,800 VND/kg for CB240 coiled steel and 13,600 VND/kg for D10 CB300 ribbed steel bars. Meanwhile, in Southern Vietnam, companies such as Hoa Phat and VAS maintained their prices, with no further adjustments recorded in today's trading session.
