During this adjustment, North Hoa Phat steel brand increased by VND310/kg for CB240 coil and D10 CB300 rebar. The prices of these two products are currently VND 15,760/kg and VND 15,840/kg, respectively.

In Central region, Hoa Phat increased by 310 VND/kg for both CB240 coil and D10 CB300 rebar. Accordingly, the prices of these two products are currently VND 15,680/kg and VND 15,730/kg.

In the south, Coil CB240 and Rebar D10 CB300 recorded an increase of VND410/kg. Currently, the prices for these two products are VND 15,830/kg and VND 15,880/kg, respectively.

Similarly, steel brand Vietnam Italy increased by 310 VND/kg for both CB240 coil and D10 CB300 rebar. Currently, the price of these two products is VND 15,710/kg and VND 15,810/kg, respectively.

Viet Duc Steel in North, increased by 300 VND/kg with CB240 coil, currently at 15,500 VND/kg; and D10 CB300 rebar increased by VND 310/kg to VND 15,810/kg.

In the central region, Viet Duc with CB240 steel spool increased by 310 VND/kg to 15,860 VND/kg; Rebar D10 CB300 increased by 300 VND/kg to 16,060 VND/kg.

Adjusted Kyoei steel to 300 VND/kg for CB240 coil and 310 VND/kg for D10 CB300 rebar. Currently, the prices of these two products are 15,580 VND/kg and 15,840 VND/kg.

The Vietnamese-Japanese steel brand in the north also rose by 300 VND/kg for CB240 coils to 15,880 VND/kg.

Pomina steel in Central region increased by VND300/kg for CB240 coil to VND16,520/kg; with reinforcement bar D10 CB300 increased by 310 VND/kg, currently priced at 16,580 VND/kg.

In the south, Pomina adjusted to increase 300 dong/kg for CB240 coil to 16,470 dong/kg; with reinforcement bar D10 CB300 increased by 310 VND/kg, currently priced at 16,580 VND/kg.

Thai Nguyen Steel, increased by 410 VND/kg for CB240 coil to 15,760 VND/kg; with rebar D10 CB300 increased by 310 VND/kg, currently priced at 15,810 VND/kg.

Steel brand Tung Ho in the south, increase by 200 VND/kg for CB240 coil to 15,730 VND/kg; with rebar D10 CB300 increased by 300 VND/kg, currently priced at 15,780 VND/kg.

Northern Viet Sing Steel, an increase of 300 VND/kg for CB240 coil and 400 VND/kg for D10 CB300 rebar. Currently, the price of these two products is VND 15,630/kg and VND 15,830/kg, respectively.

With the Vietnamese steel brand in the north, the coil price of CB240 increased by VND 300/kg to VND 15,680/kg.

In the Central region, the price of CB240 steel coil and D10 CB300 rebar remained the same compared to the adjustment period on January 31, 2023. Currently, the prices for these two products are VND 15,680/kg and VND 15,580/kg, respectively.

In the south, Vietnam increased VND 300/kg for both CB240 coil and D10 CB300 rebar. The prices of these two products are currently VND 15,580/kg and VND 15,680/kg, respectively.

North American steel brand adjusted to increase 310 VND/kg for CB240 coil to 15,330 VND/kg; with rebar D10 CB300 increased by 410 VND/kg to 15,580 VND/kg.

Although the domestic price of steel has been continuously adjusted by enterprises, it does not come from market demand, but the main reason is the high price of raw materials for steel production.

According to some experts, steel prices are likely to continue rising in connection with further rising world market prices, the main raw materials for steel production such as iron ore, coal, steel scrap, hot-rolled coils … There are no signs of stopping the upward trend.

In the latest report on steel production and consumption in 2022, the Vietnam Steel Association also called negative figures. Notably, finished steel production reached 29.339 million tons in 2022, down 11.9% from the same period in 2021. Finished steel consumption reached 27.3 million tons, down 7.2% from the same period in 2021. Of these, exports reached 6.28 million tons, down 19.1% from the same period last year.

The Commodity Exchange of Vietnam (MXV) comments on the prospects for the steel industry in 2023 and believes that it will still be a challenging year for the domestic steel industry. However, the “traction” of public investment is expected to paint a better picture for the domestic steel industry.