11,024.33 TRY BIST 100 BIST 100
4.57 CNY CNY CNY
32.97 USD USD USD
35.87 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
40.55 TRY Interest Interest
85.89 USD Fossil Oil Fossil Oil
31.06 USD Silver Silver
4.49 USD Copper Copper
107.83 USD Iron Ore Iron Ore
382.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,553.39 TRY Gold (gr) Gold (gr)

Steel prices continue to fall in Vietnam

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.

Steel prices continue to fall in Vietnam

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

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In
SteelRadar Insight - Sayı 1 (Haziran 2024)

Most read news

Cargo handled at Turkish ports increased

Friday, July 12, 2024

AISI reports decline in steel imports for June 2024

Friday, July 12, 2024

Chinese scrap market follows a volatile trend

Friday, July 12, 2024

Iron ore prices fluctuate in India

Friday, July 12, 2024

The imported rebar market in Singapore has weakened

Friday, July 12, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now