Vietnamese rebar market makes no progress
2014-04-02 09:24:27 [Print]
BEIJING (Asian Metal) 2 Apr 14 - The rebar market in Vietnam remains slow as the demand from downstream buyers does not increase much. The price stays unchanged with that of JIS G3112-1987 SD390 Φ12-32mm at VND12,500,000-13,000,000/t (USD593-616/t) VAT excluded. Insiders predict that the market price will keep stable in following one or two weeks.
A construction steel producer in Vinh Phuc Province with a monthly output of 20,000t reported that the price of rebar JIS G3112-1987 SD390 Φ12-32mm is VND12,500,000/t (USD593/t) VAT excluded, unchanged compared with that of last week.
He said it is the traditional high season for construction industry from March to April, before the rainy season in May, but most projects have finished the foundation works and the operation is slowing down. Besides, there will be more steel billet delivered from Russia in April and May when it is warm and the transportation is more convenient, which means the steel billet price is likely to go down then, and the import price is USD520-530/t CFR Vietnam at present. Holding a stock of less than 10,000t in hand, the source is unconfident of the market in April.
Another construction steel producer in Vung Tau with a yearly production capacity of 400,000t reported that the price of rebar JIS G3112-1987 SD390 Φ12-32mm is VND12,900,000/t (USD612/t) VAT excluded, unchanged compared with that of last week.
The source confirmed that the current steel market in Vietnam does not improve although it is the traditional high season. For one thing, the demand from domestic downstream industries is not strong; for another, low offers from Chinese exporters drag down the local market price. “I heard that many rebar exporters from China quoted USD500/t CFR Vietnam last month, so it is bad news for producers here,” he said. Therefore, he does not think the rebar price in Vietnam will go up in a short term. Currently, his inventory of wire rod and rebar is at a normal level of 30,000t.
A construction steel producer in Vinh Phuc Province with a monthly output of 20,000t reported that the price of rebar JIS G3112-1987 SD390 Φ12-32mm is VND12,500,000/t (USD593/t) VAT excluded, unchanged compared with that of last week.
He said it is the traditional high season for construction industry from March to April, before the rainy season in May, but most projects have finished the foundation works and the operation is slowing down. Besides, there will be more steel billet delivered from Russia in April and May when it is warm and the transportation is more convenient, which means the steel billet price is likely to go down then, and the import price is USD520-530/t CFR Vietnam at present. Holding a stock of less than 10,000t in hand, the source is unconfident of the market in April.
Another construction steel producer in Vung Tau with a yearly production capacity of 400,000t reported that the price of rebar JIS G3112-1987 SD390 Φ12-32mm is VND12,900,000/t (USD612/t) VAT excluded, unchanged compared with that of last week.
The source confirmed that the current steel market in Vietnam does not improve although it is the traditional high season. For one thing, the demand from domestic downstream industries is not strong; for another, low offers from Chinese exporters drag down the local market price. “I heard that many rebar exporters from China quoted USD500/t CFR Vietnam last month, so it is bad news for producers here,” he said. Therefore, he does not think the rebar price in Vietnam will go up in a short term. Currently, his inventory of wire rod and rebar is at a normal level of 30,000t.
