Construction steel prices have seen their second increase of 2024, with the highest rise reaching 210,000 VND per ton.

According to Steel Online data, compared to the adjustment on January 8, 2024, this round of price adjustments saw an increase of 100,000 to 210,000 VND per ton for two products: CB240 rolled steel and D10 CB300 rebar, depending on the brand and type.

Hòa Phát has raised the price of CB240 rolled steel by 200,000 VND per ton in the North, Central, and South regions. After the adjustment, the price of CB240 rolled steel from Hòa Phát in all three regions is 14.34 million VND per ton.

In contrast, Hòa Phát has kept the price of D10 CB300 rebar unchanged, with the price in the North and South regions remaining at 14.53 million VND per ton.

Similarly, the Vietnam-American Steel (VAS) brand has also increased the price of CB240 steel by 200,000 VND per ton in all three regions. After the adjustment, the price of CB240 steel is 14.11 million VND per ton in the North, 14.41 million VND per ton in the Central region, and 14.16 million VND per ton in the South.

VAS has also maintained the price of D10 CB300 rebar at 14.21 million VND per ton in the North, with prices in the Central and South regions being 14.26 million VND per ton.

Vietnam-I Steel in the North has also adjusted the price of CB240 rolled steel by 200,000 VND per ton, reaching 14.34 million VND per ton. The price of D10 CB300 rebar has been increased by 100,000 VND per ton to 14.64 million VND per ton.

Vietnam-Germany Steel has raised the price of CB240 rolled steel by 200,000 VND per ton in the North, reaching 14.24 million VND per ton. The price of D10 CB300 rebar remains unchanged at 14.64 million VND per ton.

Similarly, Tung Ho Steel in the South has increased the price of CB240 steel by 200,000 VND per ton to 14.26 million VND per ton. The price of D10 CB300 rebar remains at 14.41 million VND per ton.

This is the second price increase in 2024 and the sixth consecutive increase since the end of November 2023.

The Vietnam Steel Association (VSA) has reported that since the beginning of Q4 2023, steel prices have been trending upward due to rising raw material costs. Factories have had to adjust steel prices to compensate for part of the increased material costs, despite demand remaining low.

Source: Vietstock