Steel price today June 9: Plunging due to concerns about China's economic slowdown

Domestic steel prices were stable on June 9, while rebar futures in the international market continued to fall, reaching their lowest level since August 2024. Pressure came from growing concerns about the economic growth prospects of China – the world’s largest consumer of metals.

Steel bar futures prices continued to fall, reaching their lowest level since August 2024.

Steel prices in the North

Hoa Phat steel brand, with CB240 coil steel at VND13,650/kg; D10 CB300 ribbed steel at VND13,790/kg.

Viet Y steel brand, CB240 coil steel at VND13,890/kg; D10 CB300 ribbed steel at VND13,990/kg.

Viet Duc steel, with CB240 coil steel at VND13,550/kg, D10 CB300 ribbed steel at VND13,550/kg.

Viet Sing steel, with CB240 coil steel at VND13,690/kg; D10 CB300 ribbed steel at VND13,580/kg.

VAS steel, with CB240 coil steel line at 13,740 VND/kg; D10 CB300 ribbed steel bar at 13,740 VND/kg.

Steel prices in the Central region

Hoa Phat steel, with CB240 coil steel line, at 13,530 VND/kg; D10 CB300 ribbed steel bar at 13,530 VND/kg.

Viet Duc steel, currently CB240 coil steel line is at 14,050 VND/kg; D10 CB300 ribbed steel bar is at 14,000 VND/kg.

VAS steel, CB240 coil steel line is at 13,740 VND/kg; D10 CB300 ribbed steel bar is at 13,790 VND/kg.

Steel prices in the South

Hoa Phat Steel, CB240 coil steel, at VND13,790/kg; D10 CB300 rebar steel is priced at VND13,740/kg.

VAS Steel, CB240 coil steel line at VND13,740/kg; D10 CB300 rebar steel is priced at VND13,840/kg.

Steel prices on the exchange

The December 2025 rebar futures price on the Shanghai Futures Exchange (SHFE) decreased by 16 yuan to 2,968 yuan/ton.

Rebar futures prices continued to decline, hitting a low since August 2024 due to growing concerns about the economic growth prospects of China - the world's largest metal consumer.

Specifically, on the Shanghai exchange, the price of steel bars fell to 2,931 yuan/ton, marking the lowest level in nearly 10 months.

The clearest signal of the economic weakness was the Caixin manufacturing PMI, an index measuring the health of the private manufacturing sector, which fell sharply to 48.3 in May from 50.4 in April. This was the lowest level since September 2022 and significantly lower than market expectations.

This unexpected decline, in contrast to the more positive official PMI, clearly reflected the pressure that China's export-oriented factories are facing amid escalating global trade tensions.

The information has increased concerns about the slowdown in steel exports - one of the main pillars of China's metal industry.

Meanwhile, US President Donald Trump has announced a doubling of tariffs on imported steel and aluminum from June 4 to protect jobs in the domestic metal industry.

The announcement was made during a visit to a US Steel plant, where he also expressed support for a cooperation agreement between US Steel and Nippon Steel (Japan).

According to experts, the tariff increase could push up steel prices in the US in the coming time, while creating downward pressure on the global steel market, especially in China - the world's largest steel exporter.

Ha Tran, Hang That newspaper (Thuonghieucongluan.com.vn)