The construction steel market today has recorded an increase in prices from Tungho and Hoa Phat steel mills for steel rebar, effective from March 6, 2023. However, due to low demand, the impact of this price increase is also not significant.

At the end of February, many mills announced an increase in the price of construction steel, but only by 150-200 VND/kg for coil steel. At the beginning of March, the mills continued to change the price of rebar. Specifically, today, Hoa Phat announced an additional increase of 200 VND/kg for rebar from March 6 in the Southern region. Following Hoa Phat, Tungho also announced an additional increase of 200 VND/kg for rebar, but this mill increased the price today. This move may lead to many other mills increasing the price of rebar, especially those that previously increased the price of coil steel such as Shengli, Viet Duc, and Viet Uc.

Although the mills have raised the price, the prices for most traders are still stable, mainly due to weak consumption. According to statistics, consumption in almost all of February is estimated to reach only about 402,600 tons, a decrease of 106,400 tons compared to January, even though February is usually one of the months with high consumption. On the other hand, generally, billets and scrap are still relatively stable in price, but trading is still weak and putting pressure on the price of construction steel, so the adjustment of construction steel prices is cautious. Therefore, this increase by the mills may not have a significant impact.

For more details:

Tung Ho Vietnam (THSVC) announces:

• Increase by 200 VND/kg (excluding VAT) for rebar
• Effective since March 1, 2023.

Hoa Phat (Binh Dinh Branch) announces to customers:

On Monday, March 6, 2023, we will increase the price of our products:

• All types of construction steel: 200 VND/kg (excluding VAT)