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Domestic steel price decreased by half a million dong/ton

Many businesses announced to reduce steel prices from May 27 with a reduction of up to 500,000 VND/ton. This is the second consecutive decrease in steel prices in less than half a month, with a total decrease of nearly 1 million VND/ton.

A series of steel brands announced to continue to reduce selling prices from May 27. Accordingly, Hoa Phat steel brand in the North reduced by 210,000 VND/ton for CB240 steel, selling price to 17.64 million VND/ton. Similarly, D10 CB300 steel is also reduced by Hoa Phat by 270,000 VND/ton, selling price is 18.01 million VND/ton. In the South, steel price Hoa Phat’s CB240 coil and D10 CB300 rebar are reduced by 370,000 VND/ton, selling prices are 17.56 million VND/ton and 17.91 million VND/ton, respectively.

Kyoei Steel also lowered the selling price for CB240 steel and CB300 D10 steel in the North by 500,000 VND/ton and 390,000 VND/ton, respectively, to 17.57 million VND/ton and 17.88 million VND/ton, respectively. The above two types of steel in the South were also reduced by 470,000 VND/ton and 370,000 VND/ton, respectively, down to 17.56 million VND/ton and 17.91 million VND/ton.

Along with the same trend, the Vietnam Italy steel brand also lowered the selling prices for two products of CB240 steel and D10 CB300 steel by 410,000 VND/ton and 300,000 VND/ton to 17.57 million VND/ton and 17.93 million VND/ton respectively. .

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Steel prices fell sharply

Viet Duc steel brand also reduced VND 490,000/ton for CB240 coil and VND 390,000/ton for D10 CB300 rebar. The selling price of these two products is reduced to 17.32 million VND/ton and 17.98 million VND/ton.

Southern Steel brand also adjusted down 410,000 VND/ton for CB240, the price was 17.57 million VND/ton; down 300,000 VND/ton with D10 CB300 steel, the selling price is 17.88 million VND/ton.

This is the second consecutive decrease in steel prices in more than half a month. 10 days ago, many businesses also reduced steel prices with a reduction of 300,000-450,000 VND/ton. Thus, in less than half a month, the domestic steel price has decreased by nearly 1 million VND/ton.

From the beginning of the year until now, the domestic construction steel price has undergone 10 adjustments, of which 7 times increased and 3 times decreased. Steel price was 1-1.5 million dong/ton lower than the beginning of April. Of which, Hoa Phat’s CB240 steel in the North decreased by 1.48 million dong/ton; Vietnam Italy’s CB240 steel decreased by 1.32 million VND/ton; while CB240 steel of Southern Steel decreased by 1.42 million VND/ton.

The reason that domestic steel prices dropped sharply after a hot rise is said to be the price of steel billets and input materials tending to go down. The price of raw materials in steel production has continuously decreased since the end of March, causing the steel market to slow down.

The “zero covid” policy caused a sharp drop in China’s steel demand. But China is the world’s largest steel consumption market, causing the world’s steel demand to decline. Declining demand, cooling input material prices have put pressure on steel prices in domestic construction.

Gia Hung

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After the hot fever ended, steel prices dropped sharplyAfter 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.

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