Steel prices rise again
The market has been very much expecting a recovery in steel demand and more economic stimulus in the coming months. However, the latest wave of Covid-19 in China is causing more challenges for domestic steel demand than steel production.
China’s steel production is expected to increase this April, but supply chain disruptions and logistical hurdles across parts of the country could continue to undermine end-user steel demand.
China Iron and Steel Association (CISA) estimated that China’s daily crude steel output in the period March 21 to March 31 increased by 4.9% compared to mid-March to 2.788 million tons/day. .
Daily crude steel production in March was recorded at 2.709 million tons, up 1.2% from the average for the first two months of the year, despite the fact that the whole Tangshan city has been under lockdown since the 19th. /3.
Market sources expect the upward trend in China’s steel output to continue in April.
Hoa Phat steel price today still maintains the same price as on May 14th and is at a “towering” high level.
Domestic steel price compared to steel price on April 14, recorded Hoa Phat steel price remained stable without increasing. Specifically, in the domestic market, Hoa Phat steel price in the North continued to maintain a series of stable days at a high level with CB240 coil price at VND 18,940/kg, D10 CB300 rebar price at VND 19,040 /kg. In the Central and Southern regions, the price of Hoa Phat Steel Bar D10 CB300 ranges from 18,890 to 19,090 VND/kg.
Vietnam Italy Steel currently maintains the same selling price with CB240 coil price currently at 18,890 VND/kg, D10 CB300 rebar price at 18,990 VND/kg.
Vietnam-Italy steel prices remain the same as on April 14.
Viet Nhat Steel has been stable for many consecutive days, with CB240 coil price at VND 18,820/kg, D10 CB300 rebar price at VND 18,920/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.
In the Central region, the price of Pomina steel, with CB240 coil line stabilized at VND 19,380/kg, the price of D10 CB300 rebar has a selling price of VND 19,580/kg.
In the South, Pomina steel price, with 2 product lines including CB240 coil, is at 19,430 VND/kg; D10 CB300 rebar is priced at 19,630 VND/kg.
According to experts, the increase in steel prices is due to the fact that steel materials in the world, in China and in Vietnam are still high and because the supply chain is still facing many difficulties, especially in transportation.
After that, the demand for steel in Vietnam market increased again when many localities restored production and business and the country was implementing many key projects.
at Blogtuan.info – Source: danviet.vn – Read the original article here
