Starting in December 2023, along with the increase in construction steel prices in most regions of the world, the Vietnamese construction steel market also recorded the first price increase of the month on December 6, 2023. when Hoa Phat, Tung Ho, and VAS simultaneously increased 200 VND/kg for wire rod.

Next, on December 7, mills simultaneously increased the price of wire rod by 200 VND/kg. At the same time, VAS also announced a price increase of 250 VND/kg for wire rod products in the Northern. And on December 9, there was an announcement of steel price increase for Tung Ho rebar (increased by 100 VND/kg) and wire rod of Thep Mien Nam (increased by 200 VND/kg).

After these price increases, depending on the mill and market area, the price of wire rod ranges from 13,900 - 15,800 VND/kg, the price of CB300 rebar ranges from 13,900 - 15,400 VND/kg, this is the price paid at the mills, excluding VAT.

Thus, after a period of simultaneous price reduction lasting from early April 2023 to early September 2023, the simultaneous price increase has only begun from November 2023 until now with a total increase ranges from 300 - 450 VND/kg for wire rod steel and 200 - 300 VND/kg for rebar steel depending on the mill.

In particular, the price increase at the beginning of this month (from 200-250 VND/kg) was more than double the price increase at the beginning of November (100-150 VND/kg). As expected, at the beginning of this new week, the market continued to receive news of price increases from other mills applicable to rebar products, specifically:

- Hoa Phat Hung Yen and Hoa Phat Binh Duong:

+ An increase of 150 VND/kg applies to rebar from D12 and above

+ An increase of 250 VND/kg applies to D10 rebar

+ Applicable market: Nationwide

-      Viet Duc:

+ An increase of 150 VND/kg applies to rebar from D12 and above

+ An increase of 250 VND/kg applies to D10 rebar

+ Applicable markets: Northern and Central regions

- Tung Ho:

+ An increase of 150 VND/kg applies to rebar from D12 and above

+ An increase of 250 VND/kg applies to D10 rebar

+ Effective date: December 11, 2023

- Viet My VAS:

+ Increase 250 VND/kg for D10 rebar (CB400, CB500)

+ Increase 150 VND/kg for D12 rebar (CB400, CB500)

+ Applicable market: The South

+ Effective date: December 12, 2023

The price does not include VAT

From the perspective of a trading company, Nhan Luat still maintains a cautious stance due to weak purchasing power from end users, high inventory and the time at the end of the year. However, with the continuous increase in prices along with improvements in the mill's sales output, it is likely that traders will have many moves to adjust price increases in the last month of this year.