Domestic steel price continued to decrease by 360,000 VND/ton. This is the 8th decrease of domestic steel price in the past 2 months, with a total decrease of more than 3 million VND/ton.
Many domestic steel enterprises on July 9 announced to continue lowering product prices with the highest reduction of up to 360,000 VND/ton.
Specifically, Hoa Phat steel brand in the North adjusted down 360,000 VND/ton and 200,000 VND/ton respectively for CB240 coil and D10 CB300 rebar. The adjusted selling price of these two steels is 16.24 million VND/ton and 16.6 million VND/ton.
Vietnam Italy steel brand also reduced 200,000 VND/ton and 210,000 VND/ton respectively with CB240 and D10 CB300 coils, pulling the selling price down to 16.16 million VND/ton and 16.56 million VND/ton, respectively. .
Similarly, Viet Duc steel brand also decreased by 300,000 VND/ton and 190,000 VND/ton, respectively, with two products of CB240 coil and D10 CB300 rebar, selling prices to 16.06 million VND/ton and 16.51 million VND, respectively. VND/ton.
Kyoei Steel also reduced 200,000 VND/ton for CB240 steel and 140,000 VND/ton for D10 CB300 steel, the selling price after being reduced to 16.06 million VND/ton and 16.46 million VND/ton.
Domestic steel prices continued to fall. Photo: Hoang Ha
This is the 8th decrease of domestic steel prices since May 11. Thus, within the past 2 months, the domestic steel price has decreased by more than 3 million VND/ton, depending on the brand and type of steel.
Analysts said that the reason why the domestic steel price dropped sharply after a hot rise is said to be the price of steel billets and input materials tending to go down. From the end of March until now, the price of raw materials in steel production has continuously decreased, causing the steel market to slow down.
In addition, the high price of some construction materials in recent years has made many construction enterprises difficult and their operations stalled, leading to a decrease in steel demand. Moreover, the policy of stricter management of capital inflows into the real estate sector also affects steel demand.
Contrary to steel, the price of some other construction materials still increased sharply. An example is cement. Since the beginning of the year, this item has increased 3 times in a row due to the high price of raw materials such as coal, oil, gypsum...
According to Hanh Nguyen/Vietnamnet.vn
