World steel prices “plunge” unprecedentedly, domestic prices have cooled down?

World steel price today on the Shanghai trading floor on April 26 plummeted 166 yuan to 4,849 yuan/ton at the time of survey at 9:30 am (Vietnam time).

According to experts, the world steel price has decreased in recent days due to the abundant supply of steel production materials and labor, and because the situation of the Covid-19 epidemic in China and some countries has temporarily stopped. control time.

Compared with the price of materials, the world steel price has decreased, experts believe that the domestic steel price will not decrease because many key infrastructure projects are being implemented in the country.

According to a survey of steel prices in Vietnam market, steel prices of steel brands Hoa Phat, Viet Nhat, Viet Italy, Pomina, continued to keep the same selling price at the peak until April 21.

In the North market, Hoa Phat steel price did not have any price adjustment and remained at the peak in the past 15 days, CB240 coil price 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.

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.

Vietnam-Japan 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.

VAS steel continues to maintain the highest price in the past 30 days, CB240 coil line is at 18,180 VND/kg; D10 CB300 rebar line is priced at 18,280 VND/kg.

Pomina steel price in the Central region with CB240 coil line was stable at 19,380 VND/kg; and D10 CB300 rebar is priced at 19,580 VND/kg. In the South, Pomina steel prices continued to be stable, with 2 product lines including CB240 coil at 19,430 VND/kg; D10 CB300 rebar is priced at 19,630 VND/kg.

Although the world steel price has decreased, domestic enterprises still forecast that steel price in 2022 will remain high, ranging from $840-850/ton or more. This is because production costs, transportation costs, coal prices, energy prices and even ore prices have increased to very high levels, thereby creating high cost of goods for HRC (rolled coil) steel producers. hot).

The Ministry of Finance has proposed import and export taxes on billet and steel products. Currently, this proposal has been approved in Decree 101/2021/ND-CP.

Accordingly, increasing export tax on billet products to contribute to stabilizing the supply of steel billet for the domestic market, limiting the export of steel billet to keep domestic production, and ensuring the sustainable development of the country. steel industry in the long term.

At the same time, reduce import tax on some construction steel products with high import tax rates (15%, 20%, 25%) to stabilize the price of domestic steel products.