Steel prices cool down

After sharp increases to above VND19,000 per kilogram, causing difficulties for construction projects, steel prices have gradually cooled down to around VND17,000 per kilogram in recent days, depending on brands and products.
Compared to the level of VND12,000 per kilogram from the beginning of this year backward, steel prices remain relatively high. However, this price decrease partly has positive impacts on construction projects.

Particularly, in recent days, many steel manufacturers have released announcements to agents and contractors on lowering steel prices by VND750,000-VND1.5 million per ton.

Currently, steel coils hover at VND16.6 million – VND16.7 million per ton, and steel bars fetch VND17 million – VND17.5 million per ton. The reason is that many localities have entered the rainy season, so projects limit construction, leading to weaker steel consumption. As a result, steel prices are adjusted in tandem.

By Lac Phong – Translated by Bao Nghi

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