World steel plunges, domestic steel prices also fall

Material prices today May 13: Steel prices continue to decline in weekend transactions

Today’s steel price for delivery in October 2022 on the Shanghai Exchange fell 39 yuan to 4,617 yuan/ton at the time of the survey at 10 am (Vietnam time).

Domestic steel prices have also fallen. Accordingly, the price of construction steel was reduced by domestic steel companies by about 300-920 VND/kg.

Many big steel brands such as Hoa Phat, Viet Duc, Viet Y, Thai Nguyen steel, Southern steel all simultaneously announced to reduce steel prices from May 11.

During this adjustment period, Hoa Phat steel brand reduced 310 VND/kg for CB240 coil and 300 for D10 CB300 rebar in all three regions of the North, Central and South.

Accordingly, the price of Hoa Phat steel in the North of CB240 coil price has dropped to VND 18,630/kg; CB300 rebar price is at 18,740 VND/kg. In the Central and Southern regions, these two products are also priced at 18,680 VND/kg and 18,790 VND/kg, respectively.

Kyoei steel brand also adjusted down 310 VND/kg for CB240 coil and 300 VND/kg for D10 CB300 rebar. Currently, the prices of these two products are at VND 18,570/kg and VND 18,780/kg.

Vietnam Italy Steel reduced 310 VND/kg for both products. Currently, CB240 coil price is at 18,580 VND/kg; Rebar D10 CB300 is 18,680 VND/kg. Along with this decrease, there is also Thai Nguyen steel and steel. After the discount, Thai Nguyen Steel’s CB240 coil has a new price of 19,080 VND/kg, while D10 CB300 rebar has a new price of 19,230 VND/kg.

Southern steel decreased by 600 VND/kg for CB240 coil, down to 18,680 VND/kg, D10 CB300 rebar decreased by 610 VND/kg, currently priced at 18,880 VND/kg.

Tung Ho steel also decreased by 610 VND/kg for both products: CB240 coil, D10 CB300 rebar. Currently, CB240 coil of this brand has a new selling price of 18,370 VND/kg and D10 CB300 rebar is priced at 18,520 VND/kg.

In the first sale price adjustment of 2022, Viet Duc steel brand recorded the strongest decrease. Specifically, in the Central region, Viet Duc Steel decreased by 910 VND/kg for CB240 coil and 920 VND/kg for D10 CB300 rebar. Thus, the new price is 18,880 VND/kg and 19,180 VND/kg, respectively.

In the North, Viet Duc Steel also adjusted down 310 VND/kg for CB240 coil and 300 VND/kg for D10 CB300 rebar. After the reduction, the new prices of these two products are VND 18,570/kg and VND 18,880/kg respectively.