Consumption increased sharply, pushing construction steel prices to reverse in January

In January, construction steel production achieved good results compared to the previous month and the same period of 2021.

Construction steel production in January 1  reached 1.12 million tons, an increase of 11% compared to December 2021 and the same level of the same period in 2021.

Sales reached more than 1 million tons, up 1.5% from the previous month and up 27.8% over the same period in 2021. In which, steel exports in January reached 231,892 tons, doubled over the same period last year. year 2021.

Demand started in mid-February 2022 and the market established a new high price level. The level of competition between factories is increasingly fierce on selling prices and encroaching on each other's market share.

Construction steel price in January quickly reversed, increased by about 200 VND/kg. By mid-February, it continued to increase by 300 VND/kg to about 16,600-17,200 VND/kg depending on the type of product.

Factories adjust the selling price of finished steel to partially offset the production cost, which leads to an increase in sales volume due to speculation by distributors.

VSA said that the market outlook in the first quarter of 2022 may start with a new price level when the price of steel materials continuously adjusts to increase, domestic demand has good signals. Accordingly, a series of public investment projects were promoted.

Previously, on January 9, the Government issued Resolution 01/NQ-CP with solutions for socio-economic development and recovery and the 2022 budget estimate.

Three focuses to maintain growth momentum and exploit new growth drivers identified by the Government in 2022, including restoring and promoting production and business; boosting exports and speeding up disbursement of public investment capital, mobilizing all resources for infrastructure development.

Recently, the Prime Minister assigned the Ministry of Transport and relevant agencies and localities to further speed up the investment preparation progress and decide to invest in the construction project of the North-South expressway in the East phase. period 2021-2025.

Focusing on further speeding up the construction progress of the project to build a number of expressway sections on the eastern North-South route in the period 2017-2020, the phase 1 of the Long Thanh International Airport project.

Vietnambiz