Steel prices in Vietnam continue to decline, with many businesses reducing the price of CB240 steel coils and D10 CB300 rebar by 100,000 VND/ton (4 USD). This marks the fourth consecutive price reduction for rolled steel and the fifth consecutive reduction for all steel types, bringing the total value of discounts to 700,000 VND/ton (27 USD).
According to recent records in the steel market, many major steel brands such as Hoa Phat, Viet Nhat, Viet Y, Viet Duc, Viet My, and Kyoei Vietnam have announced price cuts.
Following this price reduction, the current price of CB240 steel coils and D10 CB300 rebar in three regions fluctuates around 13.9 - 14.2 million VND/ton (546-558 USD). This is significantly lower compared to previous years.
The recent price drops in rolled steel have not had a strong impact on the market, as this type of steel accounts for only about 26% of the structure of rebar consumption in the local market. Overall consumption is increasing, but still lower compared to the same period last year.
Especially in recent times, there have been mixed opinions regarding the investigation into imported hot-rolled steel (HRC) products and the proposal to apply anti-dumping duties. Businesses in the galvanized steel and steel pipe industries, as well as consumers, are awaiting the final decision from authorities based on review data, specific analyses, and objective evaluations
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