Hanoi Iron and Steel (HSV) - Domestic steel prices today (August 31) turned to increase sharply after 15 consecutive decreases in nearly 4 months. Steel prices today increased to the highest level of 600,000 VND/ton. Today (August 31), many steel businesses announced an increase in product prices after a series of sharp declines.
Specifically, according to SteelOnline.vn, Hoa Phat Steel brand adjusted the price increases by 260,000 VND/ton and 150,000 VND/ton respectively for CB240 rolled steel and D10 CB300 rebar steel bars in the Northern region, to prices of 14.63 million VND/ton and 15.28 million VND/ton. In the Southern region, Hoa Phat Steel also increased by 100,000 VND/ton with CB240 rolled steel and increased by 110,000 VND/ton with D10 CB300 rebar steel, the adjusted selling price is 14.48 million VND/ton and 15.09 million VND/ton, respectively.
Southern Steel brand also adjusted an increase of 300,000 VND/ton for both CB240 rolled steel and D10 CB300 rebar steel, the selling price increased to 15.02 million VND/ton and 15.63 million VND/ton.
Similarly, the Vietnam Italy Steel brand also increased by 430,000 VND/ton for CB240 rolled steel products and 220,000 VND/ton for D10 CB300 rebar steel, bringing the selling price to 14.57 million VND/ton and 15.02 million VND/ton.
Viet Duc Steel also increased 600,000 VND/ton with CB240 rolled steel products and increased 200,000 VND/ton with D10 CB300 rebar steel, to prices of 14.64 million VND/ton and 15.15 million VND/ton.
Pomina Steel brand also increased prices for two rolled steel products CB240 and rebar steel D10 CB300 in the Southern region with increases of 410,000 VND/ton and 510,000 VND/ton, respectively, selling prices of 15.08 million VND/ton and 15.79 million VND/ton.
Two steel coil products CB240 and rebar steel bar D10 CB300 of the Viet My Steel brand were also increased by 270,000 VND/ton and 80,000 VND/ton, respectively, to prices of 14.41 million VND/ton and 14.67 million VND/ton.
Thus, after 15 consecutive price reductions since May 11 with the highest price reduction up to nearly 6 million VND/ton, domestic steel prices have turned down. Currently, domestic steel prices fluctuate around 14-15 million VND/ton depending on the type of steel and brand.
On the international market, steel prices today continue to fall sharply. Steel price for May 2023 delivery on the Shanghai exchange (China) today decreased by 82 Yuan, to a price of 3,651 Yuan/ton.