In July 2023, the production output of construction steel reached 919,303 tons, demonstrating a significant increase of 24.53% compared to the previous month. However, the consumption results fell short of expectations, reaching only 823,216 tons, a decrease of 5.86% compared to the previous month and an 18% decrease compared to the same period in 2022. Within these figures, the quantity of exported construction steel also faced difficulties, with only 105,191 tons being exported, a 29.7% decrease compared to July 2022.

Cumulatively for the first 7 months of 2023, the production output of construction steel reached 5.916 million tons, a 22% decrease compared to the same period in 2022. Meanwhile, the export volume was 936 thousand tons, a 39.5% decrease compared to the same period in 2022.

Regarding the distribution of domestic consumption of construction steel by regions:

• The Northern region witnessed an 11.1% decrease.
• The Southern region experienced a 24.5% decrease.
• The Central region recorded a 21.1% decrease.
• Exports saw a 39.5% decrease.

Breakdown by product type:

• Rolled steel decreased by 20.4%.
• Steel bars decreased by 23%.
• Structural steel decreased by 16%.

Production and Sales of Construction Steel by Region for the First 7 Months of the Year Regarding the situation of domestic construction steel prices: In the first month of Q3/2023, the prices of raw materials for producing construction steel remained stable compared to the previous month. With low domestic and export demand over the past 7 months, steel mills had to adjust their selling prices to ensure production and consumption plans. Prices fluctuated between 150 VND/kg and 200 VND/kg, with weekly or even daily adjustments. In the real estate market, the contrast still exists, and social housing projects have not gained strong momentum. Price competition and market share are becoming increasingly fierce, posing significant challenges for steel production activities. Currently, domestic steel mills are facing numerous difficulties, including high inventory accumulation, low selling prices, and financial cost burdens. All these factors are contributing to a challenging situation for the domestic steel industry.