In the first half of March, scrap steel prices are still on a downward trend, with demand for steel showing no signs of increasing, factories continue to announce changes in steel prices, applicable to products. rolled steel on March 19, 2024. This is the third downward price adjustment since the beginning of March 2024

Not only Hoa Phat, but also other steel mills such as VAS, Viet Duc and Viet My, have all made price reduction adjustments in a similar direction, specifically as follows:

Hoa Phat Steel

- Discount on construction steel coil: 200 VND/kg (VAT not included)

- Application period: From March 19, 2024

VAS Viet My Steel:

- Discount on steel coils of all kinds: 200 VND/kg (VAT not included).

- Applicable period from: March 19, 2024

Viet Duc Steel:

- Discount on steel coils of all types: 200 VND/kg (excluding VAT)

- Applicable period from: March 19, 2024

As we can see, construction steel demand in the market is still weak, inventory is still maintained at a high level. In addition, the scrap market shows signs of further decline with a number of factories such as Shengli, VAS, and Da Nang Steel with a decrease of 150 - 200 VND/kg. The pressure has not been relieved, so factories continue to reduce construction steel prices