Vietnamese rebar prices stable
2015-09-11 08:59:11 [Print]
BEIJING (Asian Metal) 11 Sep 15 - The price of rebar in Vietnam in on a stable trend at the moment, while the market runs slowly in the Ghost Month. The price of rebar TCVN CB400V Φ20mm is VND10,500,000-10,800,000/t (USD467-481/t) VAT excluded. Some producers reduced the production and show little optimism for the outlook of the market. Insiders deem that it is unlikely that the price of rebar will rebound in the short term.
A rebar producer in Vinh Phuc Province reported to Asian Metal that the price of TCVN CB400V Φ20mm is VND10,500,000/t (USD467/t) VAT excluded, unchanged compared with that of last week. The regular production of this company is 30,000 tons per month while it was cut by 20% before the 7th month of the Lunar Year.
The source reveals that, traditionally there is little activity in the market in the Ghost Month in Vietnam. However, traders tried to hold rebar quotations stable in the past month as the VND continued to weaken during that time, which means the production cost increased to some extent. He has no plan to produce with full capacity in the near future as the demand from engineering projects has not become strong yet.
Another rebar producer in Hanoi states that he stopped the production two months ago. He reveals that the current price of TCVN CB400V Φ20mm is VND10,800,000/t (USD481/t) VAT excluded, unchanged compared with that of last week.
According to the source, his regular production of rebar is 10,000 tons per month, 60% of the level when production lines are running at full capacity. However, the demand from downstream consumers continued to shrink before the Ghost Month in Vietnam. The mill stopped all the production for rebar in July and has no plan to resume it in the near future. “When to restart the production depends on whether the demand begins to be strong,” he says.
A rebar producer in Vinh Phuc Province reported to Asian Metal that the price of TCVN CB400V Φ20mm is VND10,500,000/t (USD467/t) VAT excluded, unchanged compared with that of last week. The regular production of this company is 30,000 tons per month while it was cut by 20% before the 7th month of the Lunar Year.
The source reveals that, traditionally there is little activity in the market in the Ghost Month in Vietnam. However, traders tried to hold rebar quotations stable in the past month as the VND continued to weaken during that time, which means the production cost increased to some extent. He has no plan to produce with full capacity in the near future as the demand from engineering projects has not become strong yet.
Another rebar producer in Hanoi states that he stopped the production two months ago. He reveals that the current price of TCVN CB400V Φ20mm is VND10,800,000/t (USD481/t) VAT excluded, unchanged compared with that of last week.
According to the source, his regular production of rebar is 10,000 tons per month, 60% of the level when production lines are running at full capacity. However, the demand from downstream consumers continued to shrink before the Ghost Month in Vietnam. The mill stopped all the production for rebar in July and has no plan to resume it in the near future. “When to restart the production depends on whether the demand begins to be strong,” he says.
