Vietnamese rebar market unpromising
2015-05-21 09:28:28 [Print]
BEIJING (Asian Metal) 21 May 15 - The price of rebar in Vietnam is on a stable trend at this moment. However, the demand from downstream consumers will shrink with the rainy season coming. Insiders deem that it is likely for the price of rebar to come down slightly in the near future.
A rebar producer in Vinh Phuc Province reported to Asian Metal that the price of JIS SD390 Φ12-32mm is VND11,000,000/t (USD505/t) VAT excluded, the same as that of last week.
According to the source, the average price of steel billet in local market was VND8,000,000/t (USD367/t) VAT excluded in the past month. However, the price shows some signs of falling slightly as some traders have intention to promote sales by offering discounts. In his opinion, if the price of steel billet decreases, the price of rebar will follow up later. As the rainy season is coming, he thinks the market will run slowly in coming three or four months.
A rebar trader in BR VT states that the current price of JIS SD390 Φ12-32mm is VND11,300,000/t (USD518/t) VAT excluded, unchanged compared with that of last week.
Noted by him, the market will continue to perform stagnantly from late May to October. His average sales volume of rebar was 1,200tpm in Q1 of this year. However, he does not think it can reach 1,000tpm in following four months. “Some manufacturers in Vietnam especially in Southern part of Vietnam have begun to cut production,” he says, adding that he will hold a cautious attitude towards the coming market.
A rebar producer in Vinh Phuc Province reported to Asian Metal that the price of JIS SD390 Φ12-32mm is VND11,000,000/t (USD505/t) VAT excluded, the same as that of last week.
According to the source, the average price of steel billet in local market was VND8,000,000/t (USD367/t) VAT excluded in the past month. However, the price shows some signs of falling slightly as some traders have intention to promote sales by offering discounts. In his opinion, if the price of steel billet decreases, the price of rebar will follow up later. As the rainy season is coming, he thinks the market will run slowly in coming three or four months.
A rebar trader in BR VT states that the current price of JIS SD390 Φ12-32mm is VND11,300,000/t (USD518/t) VAT excluded, unchanged compared with that of last week.
Noted by him, the market will continue to perform stagnantly from late May to October. His average sales volume of rebar was 1,200tpm in Q1 of this year. However, he does not think it can reach 1,000tpm in following four months. “Some manufacturers in Vietnam especially in Southern part of Vietnam have begun to cut production,” he says, adding that he will hold a cautious attitude towards the coming market.
