Vietnam’s rebar prices rise slightly driven by overall market sentiment

This morning, Vietnam's Hofa Steel SA302 Grade C steel Company announced an increase of 150 Vietnamese dong/kg (approximately 5.8 US dollars/ton) in the price of rebar, marking the first time since early 2025 that the company has raised the price of long steel products. After the price adjustment, our current domestic trade assessment price for mainstream rebar resources in Vietnam is 13400-13700 Vietnamese dong/kg (approximately 524-536 US dollars/ton); The market circulating prices of wire CB240-D6 and D8 are between 13360-13500 Vietnamese dong/kg (approximately 523-528 US dollars/ton), both of which do not include a 10% value-added tax.

Imported resources, earlier this week we learned about some Chinese resources' quotations for Vietnam. The wire SAE1008 with a delivery date of the end of March is at the level of $460 CFR, and we have not heard of any transactions yet. The reason for the slight increase in steel prices in the Vietnamese SA302 Grade C construction steel market is mainly due to the overall sentiment of the Vietnamese steel market. Last Friday, Vietnam officially announced the imposition of temporary anti-dumping duties on hot-rolled products originating from China, which boosted the positive atmosphere in the Vietnamese market. Subsequently, galvanized and color coated products also raised steel prices accordingly. According to feedback from some traders and steel mills, although inventory in the current market is still high due to limited demand improvement after the Spring Festival holiday, the news of imposing temporary anti-dumping duties on imported resource hot coils is beneficial for the development of domestic steel enterprises. Therefore, everyone overall holds a relatively optimistic attitude towards the future market, hoping that March, which is the peak season for construction in previous years, can drive market consumption. Overall, the Vietnamese long timber market has been strongly affected by emotional SA302 Grade C steel fluctuations this week, but it is still affected by supply and demand contradictions, and further improvement in consumption is needed.