After 8 consecutive declines, the price of construction steel plunged to 16 – 16.6 million VND/ton, depending on type and brand. VSA forecasts that steel prices may decrease until the end of the third quarter.
On July 8, major steel brands continued to reduce construction steel prices by 200,000-310,000 VND/ton. Currently, construction steel price is fluctuating 16-16.6 million VND/ton. This is the 8th wave in a row since May 11, the data of Steel Online.
Accordingly, the price of CB240 coil and D10 CB300 rebar of the brand Hoa Phat after decreasing by 260,000 VND/ton and 200,000 VND/ton, down to 16.2 million VND/ton and 16.6 million VND/ton.
(Nguồn: Steel Online)
Similarly, Vietnam Italy steel also decreased by 200,000 VND / ton with CB240 coil to 16.1 million VND / ton, down 210,000 VND / ton with D10 CB300 rebar, at 16.5 million VND / ton.
Northern Viet Duc steel brand with CB240 coil line reduced by 300,000 VND/ton, currently at more than 16 million VND/ton; while rebar D10 CB300 decreased by 260,000 VND/ton, priced at 16.5 million VND/ton.
In the Central region, this brand only decreased by VND 200,000/ton with CB240 coil to VND 16.1 million/ton and D10 CB300 rebar down VND 160,000/ton at VND 16.6 million/ton.
Among steel enterprises, Pomina is the brand that keeps the construction steel price at more than 17 million VND/ton.
After reducing 250,000 – 310,000 VND/ton, Pomina’s CB230 coil price is at 17 – 17.2 million VND/ton; and D10 CB300 rebar is about 17.5 million VND/ton.
(Nguồn: Steel Online)
Mr. Nghiem Xuan Da, Chairman of the Vietnam Steel Association (VSA) said that construction steel prices will continue to fall in July, possibly even until the end of the third quarter.
In particular, the factors that make the prospect of the steel market in the second half of the year quite gloomy, including slow disbursement of public investment, banks tightening real estate credit, Chinese market, raw material prices and high season. the construction site has passed…
Also talking about the future of the steel industry in the second and third quarters, Mr. Tran Dinh Long, Chairman of the Board of Directors of Hoa Phat Group used two words “tragic”.
“The steel industry this year will be difficult, not as favorable as before. From now until the end of the year, steel prices may continue to decline. That’s why I’m cautious in my business plan for 2022,” said Mr. Long.
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