More businesses adjust steel prices up

More businesses adjust steel prices

The steel market is bustling after a series of tax-related information. Steel manufacturers and distributors have "predicted" this new price increase after the price increase at the end of February 2025.

First, on March 12, VAS Nghi Son Group announced an increase of VND 100/kg for both rolled steel and CB400/CB500 ribbed steel bars of all types.

Immediately after that, on March 12, Pomina announced an adjustment in steel prices, including an increase of VND 200/kg for all types of rebar (excluding VAT). At the Binh Duong factory, Pomina adjusted the selling price of rebar from D12 and above by VND 200/kg excluding VAT, applicable from March 12; no price increase has been made for D10 steel.

Meanwhile, Hoa Phat, yesterday, March 13, sent a notice to customers about cutting construction support starting from March 14.

Viet Duc Steel Corporation (VGS) said that the company has made great efforts to stabilize the selling price in the market. However, due to the increase in the price of steel billets and input materials, to ensure that the selling price is consistent with the cost, the company has to adjust the steel price up.

Accordingly, Viet Duc has adjusted the selling price of CB400-V/CB500-V steel bars of all types by VND 100/kg (excluding VAT). The scope of application is in the Northern and Central markets. The increased price will be applied immediately, from March 14.

Viet Y Steel (VIS) said that due to fluctuations in the construction steel market, and to suit current market conditions and best meet customer needs, the company has adjusted steel prices.

Accordingly, Viet Y has cut support (increased price) by VND 100 (excluding VAT) for all types of steel bars, applicable in all markets from March 14.

The increase in steel prices by domestic enterprises occurred in the context of many fluctuations in the world steel market.

On March 13, the Chinese steel market recovered strongly. The reason, according to experts, is that the 50 million ton capacity cut is still in progress. In addition, rumors that some bans may be imposed on coking coal due to high inventories at port warehouses also greatly affected the market.

Source: Yen Nguyen (https://nguoiquansat.vn/)