Steel prices have not shown any signs of cooling down yet

From the beginning of March until now, steel price Domestically, there have been 4 consecutive increases at 1.8-2.2 million dong/ton, depending on the brand, bringing steel prices at some enterprises to over 19 million dong/ton.

Some experts said that the price of steel continued to increase mainly due to the skyrocketing price of imported raw materials on the world market. In addition, high transportation costs due to increased freight rates, increased gasoline prices, etc. have caused the production costs of companies to increase accordingly.

Along with that, the demand for construction and domestic projects have returned to operation, leading to an increase in steel consumption.

Currently, domestic raw materials only meet about 20-30% of production needs, so the price of steel in Vietnam depends heavily on world prices.

Previously, from mid-February, manufacturing enterprises simultaneously increased construction steel prices to 250,000 – 610,000 VND/ton. In Vietnam in the coming time, many large-scale public investment projects will continue to be implemented, leading to a sharp increase in steel consumption.

Russia is currently a major steel exporter in the world, especially in the European market (accounting for 15% of the export market share to the EU, along with two related countries, Ukraine and Belarus, the total steel exports of these three countries). into the EU accounted for 38%. However, the supply from this market is limited, so it is difficult to predict the future prices of items.

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