The domestic price of steel for construction continues to increase by VND 600,000 per tonne.

Viet Duc brand in the North increased by 560,000 VND/ton for CB240 coil and traded at 18.27 million VND/ton.

Hoa Phat, which accounts for 32.6% of the national construction steel market share in 2021, announced a change in product prices from March 10. In the North, CB240 coil price is at VND 18.33 million/ton. Type D10 CB300 is 18.43 million VND/ton. Both types above increased by 600,000 VND/ton compared to yesterday.

In the southern region, the prices of the above types were also adjusted to increase by 600,000 VND/ton. After adjustment, CB240 is 18.33 million VND/ton, D10 CB300 is 18.48 million VND/ton.

Compared to the end of 2021, the price of CB240 and D10 CB300 in the two regions increased by 10% and 11% respectively.

Vietnam Italy steel brand also raised 600,000 VND/ton with the above two types of steel. CB240 and D10 CB300 traded at 18.28 million dong/ton and 18.38 million dong/ton, respectively.

Viet Duc brand in the North increased by 560,000 VND/ton for CB240 and traded at 18.27 million VND/ton. With CB300, the price is 18.57 million VND/ton, an increase of 550,000 VND/ton compared to yesterday.

Kyoei Steel also adjusted, increasing by 250,000 VND/ton with both CB240 and CB300. The current trading prices of these two types are VND 18.27 million/ton and VND 18.47 million/ton.

According to experts at Rong Viet Securities (VDSC), this year, investment in infrastructure projects can support domestic steel demand, especially construction steel. Besides, civil construction activity is likely to recover this year, boosting steel demand. Social distancing measures negatively affect the construction industry and create a low base in 2021 and this year, with higher vaccination rates, construction operations may face less of a challenge. than last year.

Industry experts believe that domestic steel prices are also greatly influenced by the world, including the Chinese market. In January, Vietnam bought 331,324 tons of steel, equivalent to 354.56 million USD, accounting for 32.5% of the total volume and accounting for 33% of the total import turnover of this item.

Spot stainless steel price in China on March 9 was 19,373 yuan/ton ($3,066/ton), 2.5% higher than the previous day. Since the beginning of the month, the price of this item has increased by more than 12%. Compared to the beginning of the year, the price of stainless steel increased by more than 21%.

Stainless steel price movements in China. Source: Sunsirs

Hot rolled coil at 5,166 yuan/ton ($816/ton), 4.2% higher than the beginning of the month. Cold rolled steel coil was 5,673 yuan/ton ($898/ton), up 3.5% since the beginning of the month.

Steel demand in China surged in March, partly due to the country's infrastructure investment policy. China tends to strengthen macro policies to stabilize the economy in the context of the real estate market going down. Industry experts believe that steel demand in China will increase in the second quarter as construction activities and investment in infrastructure will increase as China implements many economic stimulus measures.

In addition, steel prices increased because of concerns about supply disruption due to the war in Ukraine. Countries importing from Russia, Ukraine are looking for an alternative source from China. Russia accounts for about 10% of the world's steel import and export turnover, while Ukraine accounts for about 4%.

NDH

NDH