Each ton of domestic steel now exceeds VND 15 million, an increase of VND 200,000 compared to a week ago.
After a long time of falling and moving sideways, domestic steel prices continuously increased again. Three days ago, Hoa Phat Steel informed customers about the second price increase in the first month of 2023, with an increase of 200,000 VND per ton of CB240 coil. Accordingly, each ton of construction steel of Hoa Phat increased to VND 14.94 million in the North and VND 14.91 million in the Central region.
Similarly, Thai Nguyen Steel, Viet Nhat, Viet Italy... also simultaneously increased by 200,000 VND per ton of construction steel. For example, Thai Nguyen Steel simultaneously increased CB240 plain steel, CB300, CB400 and CB500 rebar from January 12.
After adjustment, the price of construction steel of this brand exceeded 15 million VND per ton (excluding VAT). For example, plain steel CB240 increased to 15.4 million dong per ton, CB300 rebar was 15.75 million dong, while CB400 rebar fluctuated 15.45-15.65 million dong per ton, depending on the diameter of 10 mm or 14. mm.
In case the customer pays late with a guarantee, the price per ton of steel is 1.2 million dong more expensive, excluding VAT.
Having the highest increase this time was Viet Duc Steel, 210,000 VND per ton, bringing CB240 coil, CB300 D10 rebar (10mm diameter) to 14.7 and 14.9 million dong per ton, respectively (not including the price) tax).
Like the previous price increases, the reason given by the parties is the increase in the price of steel billets and input materials. Thus, this is the second price increase in the first half of January, bringing steel prices at enterprises to nearly 15 million dong, even some units have exceeded 15 million dong. The current price is more than 3 million dong above the peak of 18.3 million dong a ton in May 2021.
According to trading agents, steel prices are likely to increase further in the context that world prices are still going up, key production materials such as iron ore, there is no sign of stopping the increase. Steel prices for May delivery on the Shanghai Exchange ended this week at more than 4,140 yuan a ton, up 32 yuan from the previous session.
In the past two months, the price of iron ore - the main raw material for steel production - has also increased by 40%, largely due to investors' expectations with the opening and recovery of the Chinese economy.
Analyzing the prospect of the steel industry this year, VNDirect believes that domestic steel producers will still face a series of difficulties when construction demand decreases, input material prices increase...
The steel industry's expectation this year is that public investment disbursement is expected to increase by 20-25% compared to 2022. On the export side, the industry's support is that steel prices may be less volatile due to demand from the Chinese market. stable, when the country reopened and introduced many policies to support and restore the real estate market.
But in general, the steel industry still struggled in the first half of the year and only really prospered in the second half of this year.
