Vietnamese rebar price goes up
2013-08-28 09:25:38 [Print]
BEIJING (Asian Metal) 23 Aug 13 - The price of rebar in Vietnam increases slightly with that of JIS G3112 SD295 Φ14-32mm from local mills at VND12,900,000-13,200,000/t (USD610-630/t, 10% VAT excluded). The local demand is not strong, but insiders predict that the price will remain firm supported by the high production cost.
A construction steel producer in Ba Ria - Vung Tau Province reported that the price of rebar JIS G3112 SD295 Φ14-32mm is VND13,050,000/t (USD615/t, 10% VAT excluded), up by USD10/t compared with that of early August.
The company produces 300,000t of wire rod and rebar per year. Now, the production cost of construction steel keeps increasing and it pushes the higher finished steel price. The company imports scrap from America, South Africa, Australia and China and imports billet from Japan, Australia and China and so on. Prices of scrap and billet in the international market kept moving up recently with the export price of scrap from Japan up by USD5/t to USD387/t CFR South Korea while the import price of billet from Ukraine up to USD530-540/t CFR Southeast Asia. Therefore, the steel mill raises ex-works price. Regarding the coming market, the source believed that the rebar price will remain firm in a short term.
A steel trader in Hanoi reported that the price of rebar G3112 SD295 Φ14-32mm from local mills is VND13,150,000/t (USD624/t, 10% VAT excluded), up by USD7.5/t compared with that of early August.
The source attributed the higher price to the increasing price trend in the international steel market. “Export prices of wire rod and rebar in China move up by USD5-20/t to USD540-550/t FOB main ports in North China. Although many buyers could not accept them immediately, I think the price is likely to be firm,” he said. Meanwhile, he revealed that the domestic demand for construction steel is not quite strong, and few of them build stock, and so does the source. He thought the rebar price in Vietnam will remain stable in coming several days but may go up further in September.
A construction steel producer in Ba Ria - Vung Tau Province reported that the price of rebar JIS G3112 SD295 Φ14-32mm is VND13,050,000/t (USD615/t, 10% VAT excluded), up by USD10/t compared with that of early August.
The company produces 300,000t of wire rod and rebar per year. Now, the production cost of construction steel keeps increasing and it pushes the higher finished steel price. The company imports scrap from America, South Africa, Australia and China and imports billet from Japan, Australia and China and so on. Prices of scrap and billet in the international market kept moving up recently with the export price of scrap from Japan up by USD5/t to USD387/t CFR South Korea while the import price of billet from Ukraine up to USD530-540/t CFR Southeast Asia. Therefore, the steel mill raises ex-works price. Regarding the coming market, the source believed that the rebar price will remain firm in a short term.
A steel trader in Hanoi reported that the price of rebar G3112 SD295 Φ14-32mm from local mills is VND13,150,000/t (USD624/t, 10% VAT excluded), up by USD7.5/t compared with that of early August.
The source attributed the higher price to the increasing price trend in the international steel market. “Export prices of wire rod and rebar in China move up by USD5-20/t to USD540-550/t FOB main ports in North China. Although many buyers could not accept them immediately, I think the price is likely to be firm,” he said. Meanwhile, he revealed that the domestic demand for construction steel is not quite strong, and few of them build stock, and so does the source. He thought the rebar price in Vietnam will remain stable in coming several days but may go up further in September.
