Vietnamese rebar price increases
2013-08-28 09:25:57 [Print]
BEIJING (Asian Metal) 28 Aug 13 - The price of rebar in Vietnam increases again at present supported by the high production cost. The price of JIS G3112 SD295 Φ14-32mm from local mills is VND13,050,000-13,460,000/t (USD617-637/t, 10% VAT excluded). Insiders predict that the price will remain firm in a short term.
A construction steel producer in Ba Ria - Vung Tau Province reported that the price of rebar JIS G3112 SD295 Φ14-32mm is VND13,200,000/t (USD624/t, 10% VAT excluded), up by VND150,000/t compared with that of last week.
The source said the production cost is increasing with the higher price of iron ore and scrap. He mainly imports scrap from Australia, America and China, while the price of scrap from America has increased to USD380/t CFR Southeast Asia, and it was only USD366/t CFR two weeks ago. Therefore, as a producer of steel products, the mill raised offers and most other producers are also facing the similar situation. The source deemed that the price of rebar will remain firm in coming two days.
A steel trader in Hanoi reported that the price of rebar G3112 SD295 Φ14-32mm from local mills is VND13,300,000/t (USD629/t, 10% VAT excluded), up by VND150,000/t compared with that of last week.
The source also attributed the higher price mainly to the increased production cost, but meanwhile, he disclosed that the demand from end users is hopefully to increase in September when the rainy season passes. He does not hold any stock of rebar, but he could arrange the purchase when buyers place orders with him. His monthly sales volume is 1,000-2,000t and he thought the market price may go up further when the high season comes.
A construction steel producer in Ba Ria - Vung Tau Province reported that the price of rebar JIS G3112 SD295 Φ14-32mm is VND13,200,000/t (USD624/t, 10% VAT excluded), up by VND150,000/t compared with that of last week.
The source said the production cost is increasing with the higher price of iron ore and scrap. He mainly imports scrap from Australia, America and China, while the price of scrap from America has increased to USD380/t CFR Southeast Asia, and it was only USD366/t CFR two weeks ago. Therefore, as a producer of steel products, the mill raised offers and most other producers are also facing the similar situation. The source deemed that the price of rebar will remain firm in coming two days.
A steel trader in Hanoi reported that the price of rebar G3112 SD295 Φ14-32mm from local mills is VND13,300,000/t (USD629/t, 10% VAT excluded), up by VND150,000/t compared with that of last week.
The source also attributed the higher price mainly to the increased production cost, but meanwhile, he disclosed that the demand from end users is hopefully to increase in September when the rainy season passes. He does not hold any stock of rebar, but he could arrange the purchase when buyers place orders with him. His monthly sales volume is 1,000-2,000t and he thought the market price may go up further when the high season comes.
