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According to our understanding, due to the impact of the decline in SPH490JH steel billet prices and raw material prices, Vietnam Hefa Steel Plant has lowered the price of mainstream specifications of rebar by 100 Vietnamese dong/kg (about 4 US dollars/ton), excluding a 10% value-added tax, effective from March 25th. Subsequently, several SPH490JH steel mills in Vietnam also followed suit in price adjustments, such as VGS and VAS, which also lowered the price of mainstream specifications of rebar by 100 Vietnamese dong/kg (approximately 4 US dollars/ton)