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The factories simultaneously raised raw material prices in the first 3 days of April 2021
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With the escalating raw material prices, many experts predict that the steel price drop will hardly happen in the near future. The price increase is expected to continue, so businesses should have long-term plans for their business and production activities when steel prices can reach peak levels.
After consecutive days of keeping prices in March, right from the beginning of April, a series of factories simultaneously raised steel prices. Specifically, on April 2, factories just raised the price of 150 dong / kg of construction steel, again announced a simultaneous increase in the price of construction steel coil and rebar on the following day (3/4 ).
A series of steel manufacturing factories such as Hoa Phat, Viet Duc, Viet Nhat, Pomina, Thai Nguyen, ... all sent notice of an increase of 300 VND / kg for rebar and construction coils of all kinds. Thus, in the first 3 days of April, construction steel has increased continuously by 450 VND / kg, key products such as steel CB240, D10 CB300 are all high, over 15,000 VND / kg.
With the escalating raw material prices, many experts forecast that steel prices will have less chance to decrease in the near future. The price increase is expected to continue, businesses need to have long-term plans for production activities, maintain production scale to stabilize jobs when steel prices can reach peak levels.
However, according to data compiled from the Ministry of Industry and Trade, in March crude steel output was estimated at more than 2.14 million tons, up 6.5% over the same period; rolled steel is estimated at 707,000 tons, up nearly 48% over the same period; steel bar and angle steel was estimated at 723,300 tons, down 4.6% over the same period.
Generally in the first 3 months of 2021, crude steel production; rolled steel increased by 14.4%; 54% over the same period last year; only bar and angle steel decreased by 1.6%.
Many people believe that the steel industry will have a positive outlook in 2021 when there is a strong wave of investment again. The steel industry this year is expected to have good growth thanks to the benefits from boosting public investment as well as the housing real estate market may heat up again.
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18/8/2025
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