Steel consumption is strong, prices continue to stay high

In the Northern market, Hoa Phat steel price did not have price adjustment. Specifically, CB240 steel coil stabilized at 18,940 VND/kg; D10 CB300 rebar is priced at 19,040 VND/kg. In the Central region, Hoa Phat Steel has CB240 coil price currently at 18,990 VND/kg; D10 CB300 rebar is priced at 19,090 VND/kg.

The southern market recorded that Hoa Phat steel kept its selling price unchanged for more than 31 days with CB240 coils currently at 18,990 VND/kg; D10 CB300 rebar is priced at 19,090 VND/kg.

Similarly, Vietnam Italy steel price maintained a stable series of days with CB240 coil price currently at 18,890 VND/kg; D10 CB300 rebar line is priced at 18,990 VND/kg.

Viet Duc steel brand has no price fluctuations. With 2 product lines of the company including CB240 steel coil at 18,880 VND/kg; and D10 CB300 rebar is priced at 19,180 VND/kg; In the Central region, Viet Duc steel recorded a stable price with 2 products of the company, including CB240 coil, currently at 18,980 VND/kg; D10 CB300 rebar is priced at 19,280 VND/kg.

VAS steel continues to maintain the same selling price, CB240 coil line is at 18,180 VND/kg; rebar line D10 CB300 is priced at 18,280 VND/kg; In the Central region, VAS steel continued to maintain the highest price in the past 1 month. Currently, CB240 coil line is priced at 18,790 VND/kg; Rebar D10 CB300 reached 18,840 VND/kg.

Viet Nhat Steel continued its series of days of stabilizing selling prices, with CB240 coils at 18,820 VND/kg; D10 CB300 rebar is priced at 18,920 VND/kg.

Viet Sing Steel, with 2 products including CB240 coil, reached VND 18,820/kg; rebar line D10 CB300 is priced at 19,030 VND/kg.

Price tPomina in the Central region with CB240 coil steel line stabilized at VND 19,380/kg; and D10 CB300 rebar is priced at 19,580 VND/kg. In the South, Pomina Steel recorded a stable price, with 2 product lines including CB240 coil at 19,430 VND/kg; D10 CB300 rebar is priced at 19,630 VND/kg.

VAS steel chain with stable selling price continued to be recorded. CB240 coil line is currently at 18,890 VND/kg; with D10 CB300 rebar reached 18,990 VND/kg.

Tung Ho Steel, with the CB240 coil line, is priced at VND 18,980/kg; D10 CB300 rebar is currently priced at 19,130 ​​VND/kg.

World steel prices ended the week, April 15 increased by 82 yuan / ton on the Shanghai Exchange to 5,065 yuan / ton as investors looked for stimulus measures from the government to revive economy affected by Covid-19.

Japan’s leading steel producers are also raising steel prices and are expected to continue to adjust prices this year due to rising transportation costs.

Japan’s largest steelmaker Nippon Steel Corp has warned of more price hikes this year. Nippon estimates that the company’s average steel price was 130,000 yen per tonne in the first quarter.

More than 40% of the steel of the two leading Japanese companies mentioned above is destined for export, with car manufacturers being the largest customers.

The prices of two main steel inputs, iron ore and coal, rose as Russia’s attack on Ukraine exacerbated the supply shortage.

Accordingly, Australian coking coal prices have increased by 45% this year, while iron ore prices in Singapore are up about 27%.