Domestic steel continues to fall sharply; Rice prices are stable, the market is bustling in the first session of the week

Domestic steel prices continue to fall sharply

Steel prices today, July 17, 2023, recorded the 14th price decrease. Hoa Phat Steel, Viet Y Steel, Viet Duc Steel, Southern Steel... all decreased from 140 - 310 VND/kg.

Today's steel price for May 2024 delivery on the Shanghai Futures Exchange (SHFE) increased by 23 yuan to 3,588 yuan/ton.

Meanwhile, domestic steel prices have decreased for the 14th time. Since the beginning of the year, construction steel prices have decreased 14 times in a row, currently CB240 steel is at 13.74 - 14.48 million VND/ton; and D10 CB300 is around 14.06 - 15.1 million VND/ton.

According to data from the Vietnam Steel Association (VSA), construction steel production in June reached 738,196 tons, down 9% compared to the previous month and down 20% compared to June 2022. Sales volume reached 874,441 tons, down 6% compared to the previous month and down 14% compared to the same period in 2022; of which, construction steel exports reached 149,623 tons, down 21.5%.

In the first 6 months of the year, the cumulative production of construction steel reached nearly 5 million tons, down 25.5% over the same period in 2022. Consumption reached nearly 5.1 million tons, down 22.7% over the same period in 2022; of which exports reached 831,000 tons, down 38%.

Rice prices are stable, the market is bustling at the beginning of the week

Rice prices today, July 17, 2023, in the domestic market remained stable compared to yesterday. The market was active, prices were high.

Accordingly, at An Giang warehouse, the price of IR 504 summer-autumn rice is being purchased by traders at 6,600 - 6,800 VND/kg, Dai Thom 8 rice fluctuates around 6,900 - 7,100 VND/kg; OM 5451 rice fluctuates at 6,400 - 6,600 VND/kg; OM 18 rice is priced at 6,600 - 6,800 VND/kg; Nang Hoa 9 is priced at 6,600 - 6,800 VND/kg; Nhat rice is also stable at 7,800 - 8,000 VND/kg; Nang Nhen rice (dry) is at 13,000 VND/kg.

Regarding sticky rice, An Giang sticky rice (fresh) is being purchased by traders at 5,800 - 6,000 VND/kg; Long An sticky rice (fresh) fluctuates between 6,300 - 6,400 VND/kg; AG sticky rice (dry) is at 7,400 - 7,600 VND/kg; Long An sticky rice (dry) is priced at 7,700 - 7,900 VND/kg.

Regarding rice, the prices of raw rice and finished products have not fluctuated. Accordingly, IR 504 raw rice is at 10,100 - 10,200 VND/kg. Similarly, finished rice is at 11,450 - 11,500 VND/kg.

According to traders, the current rice supply is low, the price of uncooked rice tends to increase slightly. The price of white rice is stable, the demand is high. The summer-autumn rice market continues to be high, with many new transactions.

In the export market, export rice prices remained stable compared to the previous session. Specifically, 5% broken rice traded at 513 USD/ton; 25% broken rice at 493 USD/ton and Jasmine rice was stable at 578 USD/ton.

According to businesses, rice export prices have skyrocketed due to supply disruptions. Countries fearing drought are buying rice to stockpile.

Domestic coffee prices continue to increase

Domestic coffee prices on July 17, 2023, in the Central Highlands provinces, were highest at 65,600 VND/kg.

Specifically, the price of green coffee beans (green coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at a price of 64,800 - 64,900 VND/kg.

Last week, coffee prices increased by 600 VND/kg (compared to the highest price in Dak Nong province, at 65,600 VND/kg on July 17, compared to 65,000 VND/kg on July 9).

Regarding world coffee prices, at the end of the weekend trading session, Robusta coffee prices on the September spot futures exchange were at 2,540 USD/ton and November futures were at 2,405 USD/ton, with average trading volume.

Supply decreases, pepper prices will go up

Pepper prices today, July 17, 2023, in the domestic market continue to trend sideways. Accordingly, in the Central Highlands region, pepper prices are purchased by traders around 67,000 - 68,000 VND/kg.

Specifically, Chu Se pepper price (Gia Lai) was purchased by traders at 67,000 VND/kg. Dak Lak pepper price today and pepper price in Dak Nong both remained at 68,000 VND/kg.

In the Southeast region, pepper prices today have not changed compared to yesterday. Currently, pepper prices in this region are being purchased from 68,500 - 70,000 VND/kg.

In Dong Nai, pepper price is 68,500 VND/kg. In Binh Phuoc, pepper price is 69,000 VND/kg. Ba Ria Vung Tau pepper price is still the highest and today is purchased by traders at 70,000 VND/kg.

Thus, today's pepper price in the domestic market continues to trend sideways. Currently, pepper price in Ba Ria Vung Tau is still purchased at the highest level of 70,000 VND/kg.

The notable information last week was the pepper import and export situation in June and the first 6 months of 2023. According to published data, the US has returned to being the largest pepper importer of Vietnam in June 2023. This means that China has reduced its purchases.