Domestic steel price on June 27 continued to decrease by 300,000 VND/ton. This is the 7th decrease of domestic steel prices since May 11.
Many domestic steel enterprises on June 27 announced to continue lowering product prices with a reduction of up to 300,000 VND/ton.
Specifically, Hoa Phat steel brand decreased for the 4th time in June. Hoa Phat Steel in the North was adjusted down by 150,000 VND/ton and 300,000 VND/ton respectively for CB240 coil and D10 CB300 rebar. After adjustment, the price of these two types is 16.5 million VND/ton and 16.8 million VND/ton. In the South, Hoa Phat adjusted to reduce the above two types of steel by 50,000 VND/ton and 150,000 VND/ton, respectively, down to 16.6 million VND/ton and 16.85 million VND/ton.
Vietnam Italy steel brand decreased by 150,000 VND/ton and 200,000 VND/ton, respectively, with CB240 and D10 CB300 coils, pulling the selling price down to VND 16.36 million/ton and VND 16.77 million/ton.
Steel prices fell for the 7th time in a row
Similarly, Viet Duc steel brand also decreased by 150,000 VND/ton and 300,000 VND/ton, respectively, with two products of CB240 coil and D10 CB300 rebar, to 16.36 million VND/ton and 16.77 million VND/ton, respectively. ton.
Kyoei Steel also reduced by 200,000 VND/ton and 210,000 VND/ton for CB240 steel and CB300 D10 steel, down to 16.26 million VND/ton and 16.66 million VND/ton.
VAS steel also reduced prices with two CB240 coil products, D10 CB300 rebar, with a reduction of 400,000 VND/ton and 310,000 VND/ton, respectively, to 16.26 million VND/ton and 16.46 million VND/ton.
Viet Sing Steel reduced the price of CB240 coil at 210,000 VND/ton to 16.39 million VND/ton; Rebar D10 CB300 is reduced by 200,000 VND/ton, priced at 16.6 million VND/ton.
Tung Ho Steel decreased by 310,000 VND/ton with CB240 coil to 16.34 million VND/ton; D10 CB300 rebar is priced at 16.54 million VND/ton.
Particularly, Vietnam-Japan steel kept its selling price, with CB240 coil at 16.56 million VND/ton; D10 CB300 rebar is priced at 16.77 million VND/ton.
This is the 7th decrease of domestic steel prices since May 11. Thus, within more than 6 weeks, the domestic steel price decreased by more than 2.8 million VND/ton, depending on the brand and type of steel.
The reason why domestic steel prices dropped sharply after a hot rise is said to be that the prices of steel billets and input materials tend to go down. The price of raw materials in steel production has continuously decreased since the end of March, causing the steel market to slow down.
Meanwhile, steel prices in China are showing signs of recovery after falling sharply last week. Trading Economics information, the futures price of rebar in China on June 27 was 4,374 yuan/ton, up 1.7% compared to the end of last week. Steel prices in China continuously fell from June 16-23 and recovered from June 24. Steel prices in China are currently about 7% lower than the peak on June 16.
According to Hanh Nguyen/Vietnamnet.vn
