Hoa Phat Mill:

Today, Hoa Phat continues to announce an increase in prices for construction steel. Additionally, the market has also observed price hikes from other steel manufacturers such as Tungho and Pomina.

Last week, Hoa Phat increased prices by 200 VND/kg for rolled steel. At the beginning of this week, the market received news that Hoa Phat would raise prices for construction steel by an additional 200 VND/kg from January 12th. The main reason for this price increase is still the rising prices of billets and scrap steel at this time. Furthermore, Hoa Phat's sales volume continued to increase in December 2022, and its consumption in 2022 also grew by approximately 10% compared to 2021. These factors have contributed to the company's decision to adjust prices upward.

Pomina Mill:

Another factory, Pomina, also announced price increases earlier this week, specifically a 200 VND/kg increase for construction steel and a 100 VND/kg increase for wire rod steel. This is the first adjustment announcement from the company since the end of 2022, a period during which many large mills raised prices for construction steel.

Tungho Mill:

In addition, the market has received information about Tungho increasing prices for construction steel by an additional 200 VND/kg from January 12th, similar to Hoa Phat. With these developments, it is likely that many large mills will adjust prices for construction steel this week.