Steel coil prices increase simultaneously

SGGP
Large domestic steel brands have simultaneously announced to raise the prices of CB240 steel coils to over VND18,000 per kilogram.
It is the third time steel coil prices have continued to climb in May.

Since the beginning of the year, the prices of steel coils have been lifted 15 times by steel manufacturers, with a total increase of about 40 percent in just five months.

This price increase is considered to cause construction contractors to hardly withstand when implementing contracts with fixed unit prices and continue to suffer losses.

According to the General Statistics Office of Vietnam, there are three reasons for the continuous increase in steel prices. Specifically, the transport costs of input materials surged. Global steel supply decreased. Manufacturing and trading units increased purchasing steel products to prevent price hikes from affecting construction costs.

By staff writers – Translated by Thuy Doan

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