[SMM Steel] Vietnam Steel Prices Stable Despite Typhoon Disruptions; Mill Losses Cap Iron Ore Gains

Published: Aug 27, 2026 15:29

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[Vietnam] Vietnam’s steel market remained relatively stable, with construction steel prices easing slightly to around 530 USD/tonne EXW despite VND depreciation, while domestic prices in VND remained largely unchanged. HRC prices stood at approximately 514–521 USD/tonne CFR Ho Chi Minh City. Typhoon Narra disrupted shipping routes in the Southeast Asian Sea, putting pressure on supply and lifting freight costs, which could provide some support to seaborne iron ore prices. However, iron ore gains are expected to remain limited as steel mills slow production amid widening losses, while mill inventories remain relatively high. Buyers are largely waiting for major mills to announce new prices this Friday ahead of the September 2 Independence Day holiday, which could provide a clearer signal on the market’s near-term direction.

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