Material prices today May 16: Steel prices plummeted

Steel price today delivered in October 2022 on the Shanghai Exchange fell 10 yuan to 4,605 ​​yuan / ton. Last week, spot prices of many steel grades in China also went down. Rebar on May 13 at 4,818 yuan/ton ($709/ton), down 1.4% compared to the beginning of the week. Stainless steel prices were at 18,265 yuan/ton ($2,690/ton) on May 13, down 1.1% from the beginning of the week. Cold rolled coil was at 5,510 yuan/ton ($811/ton), down 0.8% from the beginning of the week.

Domestically, after a long series of consecutive increases from the beginning of the year, the domestic construction steel price is now starting to cool down. Steel price has just been adjusted down from 300,000-450,000 VND/ton, down to 18.1-191 million VND/ton.

Explaining the reason why steel prices dropped, many businesses said that the price of steel billet, an input material for steel production, dropped significantly. According to data of the Vietnam Steel Association (VSA), the prices of input materials such as iron ore, coke, coke, electrodes, rolling pins, refractory materials, etc., are decreasing significantly compared to March. via.

Although steel prices turned down, they were still about 3.5% higher than in the fourth quarter of 2021.

Since the beginning of the year, the domestic construction steel price has increased 7 times, with a total increase of 2.4 million VND/ton, from 16.5 to more than 19 million VND/ton.

Steel prices in the South: Hoa Phat Steel sharply reduced selling price. Specifically, with CB240 coil line, down 310 VND, currently at 18,680 VND/kg; Rebar D10 CB300 decreased by 300 VND to 18,790 VND/kg.

Pomina Steel turned to reduce selling price. With 2 product lines of the company, including CB240 coil line, down 600 VND at 19,130 ​​VND/kg; Rebar D10 CB300 reduced by 610 dong, priced at 19,330 dong/kg.

VAS steel adjusted the selling price. CB240 coil line reduced by 100 dong, currently at 18,180 dong/kg; with D10 CB300 rebar reduced by 100 dong to 18,280 dong/kg.

Tung Ho Steel, with CB240 coil line reduced by 610 dong, priced at 18,370 dong/kg; Rebar D10 CB300 reduced by 610 VND, currently priced at 18,520 VND/kg.

Steel prices in the North: Hoa Phat steel brand has sharply reduced its selling price. Specifically, CB240 steel coil decreased by 310 VND, currently at 18,630 VND/kg; Rebar D10 CB300 reduced by 300 VND, priced at 18,740 VND/kg.

Vietnam Italy Steel, both steel lines at the same time reduced 310 VND/kg. In turn, CB240 steel coil is currently at VND 18,580/kg; D10 CB300 rebar line is priced at 18,680 VND/kg.

Viet Duc steel brand, after many days of stabilization, has reduced its selling price today. With CB240 coil, down 310 VND, currently at 18,570 VND/kg; while rebar D10 CB300 decreased by 310 VND, priced at 18,880 VND/kg.

In the Northern market, VAS steel maintained a stable selling price. With CB240 coil line at 18,180 VND/kg; D10 CB300 rebar line is priced at 18,280 VND/kg.

Viet Nhat Steel continued to move sideways on the chart, with CB240 coil at VND 18,820/kg; D10 CB300 rebar is priced at 18,920 VND/kg.

Viet Sing Steel, with 2 products including CB240 coil, decreased by 400 VND to 18,420 VND/kg; rebar line D10 CB300 reduced by 410 VND, currently priced at 18,620 VND/kg.

Steel prices in the Central region: Hoa Phat Steel reduced selling price. CB240 coil line decreased by 310 VND, currently at 18,680 VND/kg; Rebar D10 CB300 decreased by 300 VND, to 18,790 VND/kg.

Viet Duc Steel both steel lines decreased by nearly 1,000 VND/kg. Specifically, with 2 products of the company, including CB240 coil, decreased by 910 VND, currently at 18,880 VND/kg; Rebar D10 CB300 reduced by 920 dong, priced at 19,180 dong/kg.

VAS steel with its two steel lines simultaneously increased by 400 dong. Currently, CB240 coil line is priced at 18,580 VND/kg; Rebar D10 CB300 reached 18,630 VND/kg.

In the Central market, Pomina steel has no change in selling price, with CB240 coil line stabilizing at 19,380 VND/kg; and D10 CB300 rebar is priced at 19,580 VND/kg.