Rebar prices in Vietnam remained unchanged as of March 1st, with no adjustments observed in CB240 and D10 CB300 steel prices.
Recent increases in input costs such as iron ore, coking coal, scrap, and electricity, along with factors like financial costs and fluctuations in the USD/VND exchange rate, have contributed to the rise in
rebar prices. Consequently, factories had to adjust their selling prices to partially offset the increased raw material costs.
At the end of last year, rebar prices fluctuated between 13.8-15.3 million VND (559-620 USD) per ton. However, by the beginning of 2024, these prices had increased by 150,000 - 370,000 VND (6-15 USD) per ton, reaching a range of 14 to 14.5 million VND (567-588 USD) per ton and remained at this level until the end of February. Nevertheless, current prices are still 8% lower compared to the end of 2023 and 18% lower compared to 2022.
While short-term steel demand remained strong in January, the Vietnam Steel Association (VSA) cautioned that there are no signs of long-term improvement in the market, advising caution.
Rebar in Vietnam was recorded at 586 USD as of February 29th.
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