Next April, domestic gas prices are likely to decrease; Steel prices continue to increase on the exchange

Next April, gas pricesDomestic prices are likely to fall; world prices are falling again.

Gas prices today March 30: US natural gas futures fell 2.66% to $1.976/mmBTU. This is the lowest level since August 2022.

Natural gas prices have fallen about 53% so far this year. Last week, natural gas speculators cut their net short futures and options positions on the New York Mercantile Exchange and Intercontinental Exchange for a fourth straight week, the lowest since August 2022.

Today, world gas prices decreased; it is expected that next April, domestic gas prices will likely decrease. Photo: Viet Phuong

In the domestic market, from March 1, many gas businesses announced price reductions. Each 12kg gas cylinder delivered to consumers has been reduced by an average of VND16,000, and 45kg cylinders by VND60,000/cylinder, depending on the brand.

Specifically, the gas price of Ho Chi Minh City Petroleum Company Limited (Saigon Petro) from March 1st decreased by 16,000 VND/12kg cylinder. With this reduction, the retail price to consumers is 461,000 VND/12kg cylinder.

Vietnam LPG Trading Joint Stock Company, Southern Branch, from March 1st, reduced 16,000 VND/12kg cylinder and 60,000 VND/45kg cylinder. The maximum retail price of LPG Vietnam to consumers is 475,912 VND/12kg cylinder and 1,784,670 VND/45kg cylinder.

The retail price of City Petro gas from March 1 also decreased by VND16,000/12kg cylinder. Accordingly, from March 1, the retail price to consumers of the City Petro gas brand is VND494,500/12kg cylinder and VND1,854,000/45kg cylinder.

Similarly, the retail price of Petrolimex gas cylinders (including VAT) in March 2023 in the Hanoi market is 464,700 VND/12 kg household cylinder; 1,858,600 VND/48 kg industrial cylinder, respectively decreasing by 15,800 VND/12 kg cylinder and 63,400 VND/48 kg cylinder (including VAT).

SJC gold stable at 67.15 million VND

Gold prices today, March 30, have mixed developments. Domestically, JSC gold prices are stable, currently at 67.15 million VND/tael (sold). Meanwhile, world gold prices have turned down, closing the trading session at 1,964 USD.

At the time of survey at 5:00 a.m. on March 30, on the trading floor of Saigon Jewelry Company SJC, SJC gold was 66.45 million VND/tael for buying and 67.15 million VND/tael for selling.

Gold price today March 30: SJC gold stabilized at 67.15 million VND.

At Phu Quy Jewelry Company, at the time of survey, the listed price of SJC gold was at 66.45 - 67.15 million VND/tael (buy - sell).

DOJI listed the price of 9999 gold at 66.35 million VND/tael for buying and 67.05 million VND/tael for selling.

Vietinbank Gold price is listed at 66.45 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 66.50 - 67.14 million VND/tael (buy - sell). The price of 24K Rong Thang Long gold of Bao Tin Minh Chau is listed at 54.92 - 55.87 million VND/tael in two directions.

The US dollar is rising again.

USD exchange rate today March 30, USD exchange rate in the world and in the country is predicted to increase simultaneously.

The State Bank of Vietnam announced the central exchange rate with the US Dollar decreased by 2 VND, currently at 23,603 VND.

World market foreign exchange rates: Yesterday's USD exchange rate developments showed that the Dollar Index (DXY), measuring the USD against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) stopped at 102.642 points with an increase of 0.21% at the close of the session on March 29.

Currently 1 Euro is worth 1.0844 USD. 1 British Pound is worth 1.2371 USD. 1 USD is worth 132,730 Yen. 1 USD is worth 1.3558 Canadian Dollar. 1 Australian Dollar is worth 0.6685 USD.

The dollar rose against most major currencies on Wednesday, reversing some recent losses and gaining against the yen, which was volatile as Japan’s fiscal year ends.

The dollar index, which measures the currency against six rivals, was up 0.18% on the day at 102.67, off a near seven-week low of 101.91 touched late last week.

Steel prices continue to rise on the exchange

Steel prices today, March 30, continued to increase on the trading floor. Domestic steel prices are still high after the 6th consecutive increase since the beginning of the year.

Steel prices rise 19 yuan on the exchange: Steel prices for May 2023 delivery on the Shanghai Futures Exchange rose 19 yuan to 4,140 yuan/ton.

Steel futures for October 2023 delivery on the Shanghai Futures Exchange rose 24 yuan to 4,112 yuan/t. Domestic rebar prices rose across the board.

Since the beginning of 2023, the price of D10 CB300 rebar has increased 5 times. Photo: Viet Phuong

Domestically, since March 21, some steel manufacturing enterprises have raised the price of D10 CB300 rebar by VND150,000 - 160,000 per ton to about VND15.9 - 16 million per ton, according to Steel Online data.

Since the beginning of 2023, the price of D10 CB300 rebar has been adjusted up 5 times, depending on the brand.

Explaining the reason, businesses said the price increase was due to the scarcity of input materials as many factories had stopped producing billets in some furnaces since last year. In addition, factories had to pay orders signed during the year, causing local steel prices to increase due to low supply.

The sharp increase in input materials has also caused domestic factories to raise their selling prices to reduce losses. Data from the Vietnam Steel Association (VSA) shows that coking coal prices have been on an upward trend since November 2022. Scrap steel in early March increased by 13 USD per ton compared to the previous month. Hot-rolled steel (HRC) also increased by 24 USD.