Domestic construction steel price was adjusted down for the 8th time in a row, to less than 15 million VND/ton.
Some steel companies have announced to reduce prices for CB240 coils and D10 CB300 rebars, with a reduction of 200,000-300,000 VND/ton.
Specifically, according to Steel Online's data, compared to the downward adjustment on May 25, Hoa Phat Steel brand in the North this time was reduced by 200,000 VND/ton with D10 CB300 rebar, down to 14.89 million VND/ton. The price of CB240 coil remains unchanged at 14.7 million VND/ton.
In the Central region, Hoa Phat Steel decreased by 200,000 VND/ton for D10 CB300 rebar, the price was 14.75 million VND/ton; CB240 coil is kept at the price of 14.39 million VND/ton.
In the South, Hoa Phat Steel decreased by 200,000 VND/ton for both CB240 coil and D10 CB300 rebar, to VND 14.72 million/ton and VND 14.85 million/ton, respectively.
Steel prices fell for the 8th time in a row. (Photo: Hoang Ha)
Similarly, Vietnam Italy Steel in the North decreased by 210,000 VND/ton for D10 CB300 rebar, to 14.59 million VND/ton. CB240 coil products are kept at the price of 14.42 million VND/ton.
D10 CB300 rebar product of Viet Duc Steel in the North was also adjusted down by 230,000 VND/ton, to 14.77 million VND/ton. And CB240 coil remained unchanged at 14.44 million VND/ton.
Along the same trend, Viet Nhat Steel also lowered 200,000 VND/ton with D10 CB300 rebar, to 14.77 million VND/ton. And CB240 coil products are still at the price of 14.62 million VND/ton.
Viet Sing Steel in the North also adjusted down 200,000 VND/ton with CB300 D10 rebar, down to 14.77 million VND/ton, while CB240 coil remained unchanged at 14.62 million VND/ton.
Tung Ho Steel brand in the South also reduced 200,000 VND/ton for D10 CB300 rebar, the current price is 14.77 million VND/ton. CB240 coil products are still priced at 14.62 million VND/ton.
Pomina steel in the Central and the South together adjusted down 300,000 VND / ton for D10 CB300 steel, down to 15.2 million VND / ton. And CB240 steel is still kept at the price of 14.99 million VND/ton.
Thus, from the beginning of the year until now, the domestic construction steel price has recorded 8 consecutive decreases, depending on the brand, the frequency of price adjustment varies. Steel price has dropped to 14 million VND/ton. Domestic construction steel prices are now about 20% lower than the same period last year.
According to the Vietnam Steel Association (VSA), the domestic construction steel price has continuously decreased recently due to the weakening demand and the cooling of input material costs.
Recently, world steel prices also dropped sharply. Therefore, businesses in the industry are forced to reduce prices to stimulate consumption.
Today's steel price for delivery in October 2023 on the Shanghai Exchange fell 47 yuan, to 3,436 yuan/ton.
According to Hanh Nguyen/Vietnamnet.vn
