Immediately after the reduction in construction steel prices at the beginning of the lunar month of July last week, domestic steel enterprises continue to collectively adjust the prices of rebar and certain other steel types as follows:

 Hoa Phat Steel Branch in Binh Duong has recently issued an announcement regarding the adjustment of rebar product prices. Accordingly, the price of rebar products will be reduced by 100 VND/kg (excluding VAT). This is identified as the final reduction for the month. In this adjustment phase, the Hoa Phat Hung Yen Steel Branch in Da Nang has also announced a reduction in rebar prices, with a reduction of 100 VND/kg.

 Viet Duc Steel Corporation has also participated in price adjustments, with a reduction of 100 VND/kg (excluding VAT). The scope of this price reduction applies to the Northern and Central markets.

 Tung Ho Steel Vietnam Co., Ltd. (THSVC) has announced a price reduction for steel bar products. The reduction is 100 VND/kg (excluding VAT) for steel bar products. Notably, despite the price reduction, the enterprises remain committed to ensuring quality and warranties for their products.

 The reason behind these price reductions is attributed to the decrease in steel billet and raw material prices. The fluctuations in these prices may impact the pricing decisions of steel enterprises and create a competitive environment within the industry.

 The adjustment of rebar and other steel product prices in the Vietnamese market demonstrates the responsiveness of steel enterprises in coping with market changes and raw material prices. This could affect the construction sector and various other fields related to steel utilization.