Gold prices increase simultaneously; Steel prices decrease, many steel industry giants see revenue decrease

Gold prices increased simultaneously, SJC gold is currently at 67.05 million VND

Gold price today April 26, domestic gold price increased slightly, with SJC gold price currently at 67.05 million VND/tael (selling).

At the time of survey at 5:00 a.m. on April 26, on the trading floor of Saigon Jewelry Company SJC, SJC gold was 66.45 million VND/tael for buying and 67.05 million VND/tael for selling.

Today, April 26, domestic gold prices increased simultaneously.

At Phu Quy Jewelry Company, at the time of survey, the listed price of SJC gold was at 66.45 - 67.05 million VND/tael (buy - sell).

DOJI listed the price of 9999 gold at 66.40 million VND/tael for buying and 67.00 million VND/tael for selling.

Vietinbank Gold price is listed at 66.45 million VND/tael for buying and 67.07 million VND/tael for selling.

The price of SJC gold at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 66.47 - 67.03 million VND/tael (buy - sell). The price of 24K Rong Thang Long gold of Bao Tin Minh Chau is listed at 55.73 - 56.68 million VND/tael.

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 1,998.030 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 56.70 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 10.35 million VND/tael higher than the international gold price. Meanwhile, the US gold futures price increased by 0.3%, reaching 2,004.30 USD.

Steel prices decrease, many steel industry giants have reduced revenue

Steel prices today, April 26, recorded a deep drop for the fifth consecutive session on the stock exchange. Domestically, a series of steel giants saw their revenues decline.

Today's steel price for October 2023 delivery on the Shanghai Futures Exchange fell 12 yuan to 3,731 yuan/ton. Steel futures for January 2024 delivery fell 19 yuan to 3,659 yuan/ton.

The first quarter recorded continued difficulties for the steel industry as a series of large steel enterprises such as Hoa Phat, Vicasa - VnSteel saw a decline in revenue. According to information from Hoa Phat Group (HPG), in the first quarter of 2023, the company achieved revenue of about VND 26,865 billion, down 39% compared to the same period in 2022.

Steel prices today recorded many brands announcing price reductions for construction steel with reductions ranging from 130,000 - 1.12 million VND/ton. Photo: Viet Phuong

Hoa Phat's consolidated profit after tax reached VND383 billion (5% of the 2023 plan). Steel production and related products are still the mainstay, contributing 94% of the entire enterprise's profit after tax.

Similarly, at the end of the first quarter of 2023, the net revenue of Vicasa Steel Joint Stock Company - VnSteel (VCA) reached VND 506.2 billion, down 41% over the same period last year. However, due to the cost of goods sold also decreasing by 42%, the company's gross profit still increased slightly to VND 28 billion, with a gross profit margin of 5%.

A recent report by Mirea Asset Vietnam Securities Company stated that, with the characteristic of steel sales output being largely dependent on the domestic real estate market, the sluggish real estate industry in 2023 will make it difficult for domestic demand to grow. This unit forecasts that domestic steel output in 2023 will decrease to nearly 17.9 million tons, down about 10.5% over the same period.

Thus, after 3 consecutive reductions, Hoa Phat North recorded a total reduction of 960,000 VND/ton for coil steel, equivalent to 6%. For steel bars, the total reduction was 540,000 VND/ton, equivalent to 3.3%. Unlike other brands, Pomina reduced product prices twice. The total reduction for both coil steel and steel bars of Pomina is around 10%.

Domestic coffee price reaches 52,300 VND/kg

Domestic coffee prices today, April 26, in the Central Highlands provinces increased from 1,100 - 1,300 VND/kg.

Specifically, the price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province increased by 1,100 VND/kg, currently in districts such as Bao Loc, Di Linh, Lam Ha, it is purchased at a price of 51,500 - 51,600 VND/kg.

Coffee prices in Gia Lai, Kon Tum and Dak Nong provinces increased by VND1,200/kg, standing at VND52,200/kg.

World coffee prices are forecast to continue to maintain a downward trend.

Today's coffee price in Dak Lak province increased by 1,300 VND/kg, in Cu M'gar district the coffee price is currently at 52,200 VND/kg. In Ea H'leo district and Buon Ho town, the price is the same at 52,300 VND/kg.

For world coffee prices, on the London and New York exchanges, the downward trend returned as RSI is still in the overbought zone of 76.45%.

At the end of the latest trading session, Robusta coffee prices on the London floor reversed to decrease. The July spot futures fell by 16 USD to 2,428 USD/ton and the September futures fell by 13 USD to 2,400 USD/ton, both significant decreases. Trading volume was very high above average.

In line with the trend, Arabica coffee prices on the New York floor continued to decline. The July spot futures fell another 5.55 cents to 187.90 cents/lb and the September futures fell another 5.45 cents to 185.20 cents/lb, both significant declines. Trading volume remained at an average level.

Now that the new harvest is getting closer, combined with expectations of improved yields compared to the previous two years, farmers' sales will be boosted further. This is likely to be a factor that puts pressure on prices to fall in the coming time. However, the market has not really overcome concerns about short-term supply shortages as standard inventories are at a four-month low, combined with sluggish export activity compared to last month.

Pepper pricecontinue to increase by 500 - 1,500 VND/kg

Pepper prices today, April 26, in the domestic market increased by 500 - 1,500 VND/kg in key regions. Currently, domestic pepper prices fluctuate around 65,000 - 68,000 VND/kg.

In the Central Highlands, pepper prices today increased by 500 VND/kg. Specifically, in Gia Lai, pepper prices today were purchased by traders at 65,000 VND/kg, an increase of 500 VND/kg. Meanwhile, in Dak Lak and Dak Nong provinces, pepper prices today were purchased stably at 67,000 VND/kg.

Similarly, in the Southeast, pepper prices also increased by 500 - 1,500 VND/kg. Currently, pepper prices in Ba Ria - Vung Tau are being purchased by traders at 68,000 VND/kg, an increase of 500 VND/kg.

Pepper prices in the domestic market today increased sharply from 500 - 1,500 VND/kg.

Meanwhile, in Binh Phuoc and Dong Nai, pepper prices remained stable at VND67,500/kg, an increase of VND1,500/kg.

Pepper prices in the domestic market today increased sharply by 500 - 1,500 VND/kg. After two consecutive sessions of increase, pepper prices in the domestic market today increased by 1,000 - 2,000 VND/kg compared to last weekend. Increased purchasing power in export markets helped pepper prices fluctuate right before the long holiday.

Commenting on pepper prices this week, experts said there will not be many fluctuations before the upcoming 5-day holiday. Domestically, the market is still a buying and holding war between traders and farmers.

In the coming time, there will be many reports, assessments, and summaries of this year's harvest in localities. At that time, the overall picture of this year's output will be complete. This is an important basis for the market in the medium term and affects the pepper growing area next year.