Steel prices in Hai Duong decrease despite peak construction season

According to a survey by Hai Duong Newspaper reporters at many construction material dealers in Hai Duong and Kim Thanh cities, these dealers still supply the market with domestically produced steel and have not imported Chinese steel for sale. The reason is that Hai Duong people still prefer and trust Vietnamese steel brands.

Although not yet overwhelmed by Chinese steel, the steel market in Hai Duong is also experiencing unusual developments compared to the same period every year. Although the period from March to May every year is the peak of the construction season, leading to increased demand for steel, steel prices are on a downward trend. Specifically, Viet My and Viet Nhat steel are both at 15,200 VND/kg, Hoa Phat steel is 15,300 VND/kg, Thai Nguyen steel is 15,500 VND/kg. These prices are down about 700-1,000 VND/kg compared to the end of last year. According to representatives of the above dealers, the reason for the decrease in steel prices despite the increase in construction demand is due to the impact of world steel prices, including the influx of Chinese steel into the domestic market.

According to the General Department of Customs, in the first two months of this year, the amount of steel imported into Vietnam was nearly 2.65 million tons, nearly double the same period last year. In many localities across the country, Chinese steel is overwhelming Vietnamese steel, putting great pressure on domestic steel producers.