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Domestic steel price increased by VND 400,000 - VND600,000 per ton
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Vietnam Steel Association (VSA) said that in March 2017, enterprises have returned to normal production, steel output increased more than two months ago. Remarkably, according to VSA, domestic steel prices have increased sharply, about 400,000 to 600,000 per ton compared to the end of January 2017.
According to VSA, the current price of steel in the factory ranges from 10.6 million to 11.2 million per ton. Steel prices rise due to rising raw material prices and world steel prices. Domestic billet prices rose, distributors made purchases to meet part of February's demand and speculated to sell in March.
VSA said that in the domestic market, the price of steel scrap after a decline in the first half of February has shifted direction. By early March, scrap steel price was $ 285-290 / ton, up $ 15-20 / ton over the previous two months.
Steel billet price increased by $ 20-25 per tonne, higher than that of steel scrap. By early March was $ 430-440 per ton. Corresponding to that, domestic billet prices increased sharply from 9,600 to 9,800 VND / kg and end of February, early March increased to 10.200 VND / kg.
Hot rolled coil remained high at US $ 515-523 per tonne. Meanwhile, the highest price recorded last year was $ 528 per ton at the end of the year.
In February, production of steel products of VSA member enterprises reached over 1.5 million tons, an increase of nearly 29% over the same period last year, up more than 11% over the previous month. Sales of steel products in February reached over 1 million tons, up nearly 74% over the previous month and up over 43% over the same period last year.
According to VSA, exports of steel products in February reached more than 267,700 tons, down 4.5% over the same period last year, but up nearly 7% over the previous month.
VSA forecasts that sales in March will continue to increase compared to February 2017.
According to the VSA, the steel market will continue to face difficulties this year, as the US is investigating a lawsuit against Vietnam in connection with suspicion that cheap Chinese steel will "shuffle" Vietnamese goods. Exported to USA. This will make Vietnamese products difficult to export to this market, especially with galvanized steel. Last year, the US market accounted for 27% of Vietnam's exports.
Source: VietTimes
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18/8/2025
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