Domestic steel prices are expected to rise in the near future, thanks to increasing construction demand, the real estate market’s recovery and high consumption.
The prices of steel soar in the market under growing construction demand. (Photo: satthepxaydung.net)
Hanoi (VNA) - Domestic steel prices are expected to rise in the near future, thanks to increasing construction demand, the real estate m🐼arket’s recovery and high consumption, Vietnam Steel Association (VSA) said.
Nguyen Van Sua, VSA’s Vice Chairman, said the selling price of steel billets and bars had risen since July.
Specifically, steel billet prices increased from 300-310 USD per tonne in July to 315-325 USD per tonne at the beginning of this month. The prices of steel bars also increased from 308-315 USD per tonne to 330-338 USD per tonne.
The prices of building steel, excluding VAT, delivered at factories have remained stable over the past two months at 9.4 million-9.9 million VND per tonne in the north and 9.4 million-9.7 million VND per tonne in the south.
Sua said steel prices could rise further as the prices of steel billets have been rising, while the property market was expected to develop in the last few months of the year.
In addition, reports from VSA showed that the steel output of its members last month reached 1.4 million tonnes, posting a 13.6 percent year-on-year increase.
Steel sales in July reached more than 1.2 million tonnes, increasing 27.3 percent year-on-year, and 20 percent higher from the previous month.
The exports of steel products in July also posted a 57 percent year-on-year rise to reach 246,500 tonnes.
Sua said the surge in both steel production and consumption showed that domestic steel producers could meet the demand for building steel.
However, he said steel businesses should further improve their products’ quality and reduce production costs to offer more competitive prices.-VNA
The domestic steel market has seen a price surge and hoarding before temporary safeguard measures recently imposed on two types of steel imports into the Southeast Asian country, experts said.
The cost of building houses is expected to increase due to the recent rise in steel prices, which will in turn likely cause a spike in home purchase prices.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
The prices of steel soar in the market under growing construction demand. (Photo: satthepxaydung.net)
