Vietnamese rebar market slow
2013-10-10 08:59:52 [Print]
BEIJING (Asian Metal) 10 Oct 13 - The demand for rebar from downstream industries is still soft, so the rebar market in Vietnam is as dull as before, and some mills in north part even began decreasing offers last week. Insiders predict that local market price will be unchanged generally in a short term.
A construction steel producer in Hanoi reported that the price of rebar JIS G3112-1987 SD390 Φ12-32mm is VND12,943,000/t (USD613/t, 10% VAT excluded), down by VND150,000/t compared with that of last week.
The source said the main reason for the price decline is the weak demand. According to him, it is the slow season in Vietnam with the approach of the year end and the construction activity is quite slow. Therefore, the mill decreased the price by VND150,000/t last week, although many other mills did not follow suit. The source is pessimistic about the market in October, deeming the price is hard to rebound in following two weeks.
A construction steel end user in Hanoi reported that the price of rebar JIS G3112-1987 SD390 Φ12-32mm from Phu My Steel is VND13,320,000/t (USD626/t, 10% VAT excluded), unchanged compared with that of last week.
The source said the market does not make much progress and most mills’ ex-works prices have been unchanged since September 12. The source mainly purchases wire rod and rebar from mills and local traders for his construction projects, with a monthly purchasing volume of 10,000t. However, he does not build any stock now as he does not think the construction steel market will get improved in a short term.
A construction steel producer in Hanoi reported that the price of rebar JIS G3112-1987 SD390 Φ12-32mm is VND12,943,000/t (USD613/t, 10% VAT excluded), down by VND150,000/t compared with that of last week.
The source said the main reason for the price decline is the weak demand. According to him, it is the slow season in Vietnam with the approach of the year end and the construction activity is quite slow. Therefore, the mill decreased the price by VND150,000/t last week, although many other mills did not follow suit. The source is pessimistic about the market in October, deeming the price is hard to rebound in following two weeks.
A construction steel end user in Hanoi reported that the price of rebar JIS G3112-1987 SD390 Φ12-32mm from Phu My Steel is VND13,320,000/t (USD626/t, 10% VAT excluded), unchanged compared with that of last week.
The source said the market does not make much progress and most mills’ ex-works prices have been unchanged since September 12. The source mainly purchases wire rod and rebar from mills and local traders for his construction projects, with a monthly purchasing volume of 10,000t. However, he does not build any stock now as he does not think the construction steel market will get improved in a short term.
