Vietnam Domestic construction steel prices fell for the 6th time in a row

DNHN - The price of domestic construction steel was decreased for the sixth time in succession, to less than 15 million VND per tonne. Some brands offer discounts of up to 720,000 VND per tonne of steel.

Domestic construction steel prices have decreased six times in a row since the beginning of the year, with the frequency of price adjustments varying by brand.

Specifically, according to Steel Online's data, the price of the D10 CB300 rebar of Hoa Phat Steel brand in the North was reduced by 200,000 VND/ton, to 15,090,000 VND/ton, compared to the downward adjustment on May 11. The price of Hoa Phat's CB240 coil in the North remained the same at 14.9 million VND per tonne.

In the Central region, Hoa Phat Steel decreased the price of D10 CB300 rebar by 200,000 VND/ton, to 14.95 million VND/ton, while maintaining the price of the CB240 coil line at 14.9 million VND/ton.

The price of Hoa Phat Steel's D10 CB300 rebar product in the South was decreased by 200,000 VND per tonne to 15.25 million VND per tonne. The price of CB240 steel coil products was maintained at 14,92 million VND per tonne.

Pomona Steel in the Central region reduced the price of D10 CB300 steel by 60,000 VND/ton, to 15.5 million VND/ton, and the price of CB240 steel by 200,000 VND/ton, to 15.3 million VND/ton.

Pomona Steel reduced prices in the South by 720,000 VND/ton for D10 CB300 rebar and by 610,000 VND/ton for CB240 coil. The adjusted selling prices of these two steels are 15,5 and 15,3 million VND per ton.

The Vietnam Steel Association (VSA) stated that the recent decline in domestic construction steel prices is due to weak steel demand in most regions of the world and negative sentiment that has affected steel prices. product's completion. In response to the sharp decline in domestic demand for steel, manufacturers reduced their selling prices to reduce their stockpiles. Shortly, the downward trend in construction steel prices is likely to persist.

The first quarter of 2023 saw the production of finished steel reach 6,692 million tonnes, a decrease of 20.9% compared to the same period in 2022, while sales of finished steel reached 6,068 million tonnes, a decrease of 25% compared to the same period in 2022. In the meantime, steel exports reached 1,659,000 tonnes, a decrease of 8.9% compared to the same period in the previous year.

Steel prices tend to decrease in the international market. Today, the price of steel for delivery in October 2023 on the Shanghai Exchange decreased 44 yuan, to 3,651 yuan per tonne.

Ngoc Phi (TH)