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Tuesday, July 16, 2024

Steel prices soar three consecutive times in January

The Saigon Times

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HCMC – Domestic steelmakers late last month announced to hike prices, the third spike of the month, reported the local media

Domestic steelmakers adjusted up steel prices by VND300,000 – VND700,000 a ton on January 30 to over VND16 million a ton, but the new level is still over VND2 million lower than its peak in May 2021.

Thai Nguyen increased construction steel prices by VND300,000 a ton. Accordingly, each ton of plain steel CB240 (D6-8) was priced at VND15.9 million, rolled steel (D10) at VND15.95 million and rebar steel (D10-14) in the range of VND16 million and VND16.15 million.

Steelmakers such as Hoa Phat, Viet Y, Viet Nhat and Tung Ho also announced their new steel prices, which are VND500,000 to VND600,000 a ton higher than before.

Specifically, prices of rebar CB300 (D10) and rolled steel of Hoa Phat have been adjusted up to VND15.45-15.54 million each ton. Meanwhile, each ton of Viet Y’s rolled steel CB240 and rebar CB300 has risen to VND15.4-15.5 million.

Similarly, Viet Duc also increased the price of rolled steel CB240 by half a million dong a ton, while rebar steel CB300 D10 edged up by VND600,000, with each ton of these steel products amounting to VND15.2 million and VND15.5 million, respectively.

Viet Nhat steelmaker recorded the highest price hike at VND710,000 per ton for rebar CB300 D10 and rolled steel CB240, increasing to nearly VND15.6 million for each ton.

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