Steel prices rise after months of stagnation

Many businesses raised steel prices by 150,000 VND per ton, some by 410,000 VND to nearly 14.8 million, after nearly three months of no adjustment.

Hoa Phat has just announced an increase of VND150,000 per ton for CB240 rolled steel and CB300 D10 ribbed steel. Currently, the prices of these two types of steel are VND13.58 million and VND13.89 million per ton, respectively.

This increase was also applied by the brands Viet Y, VJS, Tung Ho. Pomina and VAS alone increased the price of D10 CB300 steel by 410,000 VND per ton, reaching 14.79 million and 13.96 million VND respectively. Meanwhile, Viet Duc and Kyoei lowered the selling price by about 40,000-190,000 VND per ton, depending on the type.

So after nearly three months of stagnation, steel prices have changed. However, the common increase of 150,000 VND does not have a big impact on the selling price of this item. Steel is still in the lowest price range in the past 3 years.

Steel prices are rising as the industry is in a pincer situation, both under input pressure and struggling with output. Recently, coal prices have been on the rise, and electricity prices have just been adjusted up by 4.5%, causing production costs for many businesses to increase. Meanwhile, demand has yet to recover, especially for construction steel.

Data from the Vietnam Steel Association (VSA) shows that construction steel production reached more than 898,300 tons and sold more than 870,500 tons, up 25% and 22% respectively compared to October 2022. However, compared to the previous month, construction steel consumption decreased by 9%. The gap between sales and production increased from negative levels in September to nearly 27,800 tons.

In the first 10 months of 2023, construction steel production reached nearly 8.7 million tons, down 18% over the same period. Sales reached 8.6 million tons, down 17%. Export activities alone fell by 27%.

During the period when steel prices remained stagnant, the business results of enterprises could not be thawed. Only the two "big guys" Hoa Phat and Hoa Sen had significant profit improvements, while most of the remaining enterprises were making losses.

Siddhartha

Source link: https://vnexpress.net/gia-thep-tang-sau-nhieu-thang-dung-yen-4680973.html