Summary of Vietnam Rebar Steel market from November 10th to November 17th

In the Vietnamese market, the long timber market saw a slight increase this week. As far as we know, due to the increase in HX340BD+ZF steel billet and raw material prices, HoaPhat in Vietnam has raised the price of threaded steel by 100000 Vietnamese dong/ton (approximately 4.1 US dollars/ton) from November 13th. After adjustment, the factory price of CB400 and CB500 threaded steel is approximately 13900000 Vietnamese dong/ton (approximately 572 US dollars/ton). Previously, due to the weak domestic consumer demand in Vietnam, the sluggish real estate HX340BD+ZF steel market, and weak industrial production activities, it is reported that the price of Vietnamese rebar has remained stable in the past 2-3 months and transactions have been sluggish. This is also the first time in two months that the factory price has been raised.

Subsequently, several steel mills in Vietnam followed suit with price adjustments, among which VGS Company increased the prices of deformed HX340BD+ZF steel bars CB300, CB400, and CB500 by 100000 Vietnamese dong/ton (approximately 4.1 US dollars/ton). According to feedback from traders, after this increase, the Vietnamese market has followed up adequately and the transaction is still acceptable. A factory in the south has reported that many thread steel manufacturers have reduced their supply levels, which has also supported the price increase. Overall, the domestic market demand in Vietnam has rebounded this week, but market purchasing power is still weak and public investment projects are still in the early stages, and prices may remain volatile.