Retail steel prices hit record low in nearly 2 years
Retail steel prices in Vietnam dropped Wednesday to around VND14 million ($572) per ton, equivalent to the level at end-2020.
Within more than one month, Hoa Phat Group's steel has decreased by VND1.2-1.3 million ($53) per ton. Hoa Phat, listed on the Ho Chi Minh City Stock Exchange as HPG, is among the largest steel companies in Vietnam by market value.
The same reduction margin was also recorded at other brands like Vietnam-Italy Steel, Vietnam Germany Steel Pipe, Kyoei Steel Vietnam, and Vietnam-Japan Steel.
Steel products of Hoa Phat Group. Photo courtesy of the company.
In August, retail steel prices in Vietnam fell by about VND4 million ($171) per ton since May 11 in 12 consecutive drops.
The country's steel prices have dropped sharply due to the decline in the world price of steel billets and input materials. Prices of steel production materials like iron ore, scrap steel, and coke at the end of the second quarter were down 40-50% compared to the previous quarter.
Besides, demand among local construction companies has declined, while steel supply is abundant and inventories high.
According to the Vietnam Steel Association (VSA), domestic demand for steel is at a low level and exports have fallen sharply as Vietnam's prices are higher than regional peers'.
In September, construction steel output recovered, reaching 1,095,745 tons, up 11.91% over the previous month and up 47.2% year-on-year.
However, sales volume reached only 920,248 tons, down 21.91% from August and up 7.8% year-on-year. Construction steel exports reached 113,158 tons, down 47.9% year-on-year.
Analysts of Steel Online, a steel distribution agent of many big brands in Vietnam, said the price of steel fluctuates strongly for many reasons. Previously, steel prices increased due to the increased price of scrap, gasoline and coal along with high demand.
In addition, the market also faces disruptions in global raw material supply and supply chains, while China restricts production due to environmental problems.
Steel prices have dropped again because the world's macro-economy is in recession, as monetary policy and other economic-political conditions fluctuate.
A representative of Steel Online said domestic demand is poor and will remain very poor in the future. "The current export situation is also slower than the same period last year."
The return of steel prices to the level suitable for the economy will help stabilize investment performance, avoid damage to contractors and stimulate construction investment. But due to cash shortage and the State Bank of Vietnam's credit tightening, the real estate sector is facing difficulties, impacting the steel industry.
Regarding the prospect of the steel industry in the second half of the year, Vietcombank Securities (VCBS) said it has not seen any positive signals. VCBS predicts that Chinese steel prices would remain at the current low level in H2 because demand has not recovered.
Meanwhile, steel producers need to release a large amount of inventories and the sharp drop in raw material and fuel prices in H2 will continue to support the selling price reduction process.
In Vietnam, the situation is similar due to the pressure to reduce prices according to world market prices. The demand for domestic steel consumption dropped sharply in Q2/2022, prompting manufacturers to lower their selling prices to quickly release inventories.
- Read More
Key factors helping firms export to demanding markets: DH Foods exec
Don’t treat business as a week-to-week or month-to-month affair. To go the distance, you must conduct business ethically, writes Nguyen Trung Dung, CEO of DH Foods.
Consulting - Thu, October 23, 2025 | 8:00 am GMT+7
Gold exchange, gold derivatives, gold ETFs proposed to be launched in Vietnam
Forming a gold exchange under state management in Vietnam is suitable to the reality, said Dao Xuan Tuan, head of the foreign exchange management department under the State Bank of Vietnam (SBV).
Finance - Wed, October 22, 2025 | 9:00 pm GMT+7
Real estate major Novaland wins key approval for $5 bln project in central Vietnam
Novaland Group (HoSE: NVL), one of Vietnam’s leading property developers, has received investment approval for its flagship project worth $5 billion in the central province of Lam Dong after years of delay due to legal obstacles.
Real Estate - Wed, October 22, 2025 | 4:20 pm GMT+7
Vietnam's plastics heavyweights Tien Phong, Binh Minh report profit surges
Tien Phong Plastic (HNX: NTP) recorded pre-tax profit of nearly VND949 billion ($36.04 million) in the first nine months of the year, exceeding its full-year target by 10.85%, while Binh Minh Plastic (HoSE: BMP) achieved record net profit of VND350 billion ($13.29 million) in Q3, surpassing its VND330 billion milestone set in the previous quarter.
Companies - Wed, October 22, 2025 | 4:17 pm GMT+7
Vietnam, Finland firms sign multiple MoUs on satellite, cybersecurity, aviation partnerships
A series of cooperation agreements were signed between Vietnam and Finland on Tuesday, within the framework of Party chief To Lam's official visit to Helsinki, while bilateral relationship was lifted to a "strategic partnership".
Economy - Wed, October 22, 2025 | 12:43 pm GMT+7
Trung Nam Ca Na seeks to convert agri-forest land for $147 mln industrial park in central Vietnam
Industrial park developer Trung Nam Ca Na is seeking approval to convert about 170 hectares of agricultural and forest land for the construction of a VND3,875 billion ($147 million) project in Vietnam’s central coastal province of Khanh Hoa.
Industrial real estate - Wed, October 22, 2025 | 10:54 am GMT+7
PV Power's arm posts 5-fold jump in Q3 profit on margin recovery
PetroVietnam Power Nhon Trach 2 JSC (HoSE: NT2) reported a sharp rebound in third-quarter earnings as improved margins and higher revenue lifted profits nearly fivefold from a year earlier.
Companies - Wed, October 22, 2025 | 8:37 am GMT+7
TCBS overtakes SSI to become Vietnam’s largest securities company by market cap
Over 2.3 billion shares of Techcom Securities JSC (TCBS) debuted on the Ho Chi Minh City Stock Exchange (HoSE) on Tuesday. The stock, TCX, recorded the highest price and the largest market capitalization in the Vietnamese securities sector.
Finance - Tue, October 21, 2025 | 10:27 pm GMT+7
Indonesia’s palm oil industry becomes investment magnet
Indonesia’s palm oil sector attracted IDR52.7 trillion, or approximately $3.2 billion, in investment during the first nine months of this year, with the money going into enabling the country to capture more value out of its top commodity, the country’s Ministry of Investment reported.
Southeast Asia - Tue, October 21, 2025 | 9:34 pm GMT+7
Indonesia reports strong job, investment growth
The Indonesian Coordinating Ministry for Economic Affairs reported strong job and investment growth during the first year of President Prabowo Subianto’s administration, compared with the first year under his predecessor.
Southeast Asia - Tue, October 21, 2025 | 9:29 pm GMT+7
Singapore grants conditional approval for 1GW low-carbon power import from Malaysia
Singapore has granted conditional approval to import 1 GW of low-carbon electricity from the Malaysian state of Sarawak, marking a new phase in the energy partnership between the two countries.
Southeast Asia - Tue, October 21, 2025 | 9:26 pm GMT+7
Margin lending in Vietnam’s stock market hits record, but not worrisome
Despite margin debt in Vietnam’s stock market surging sharply, experts believe that current margin pressure is not yet a major concern as top securities firms have significantly strengthened their capital buffers.
Finance - Tue, October 21, 2025 | 4:23 pm GMT+7
Lenders in Vietnam now in low-rate lending race: ACB exec
The biggest “headache” for banks in Vietnam now is that profit margins are getting thinner, said CEO of Asia Commercial Bank (ACB) Tu Tien Phat.
Banking & Finance - Tue, October 21, 2025 | 4:00 pm GMT+7
PV Gas - 35 years of innovation and technological leadership in Vietnam’s gas industry
Over the past 35 years of establishment and development (1990-2025), PV Gas, a subsidiary of state-owned giant Petrovietnam, has affirmed its pioneering position in Vietnam’s gas industry, marked by a series of groundbreaking achievements in science and technology.
Companies - Tue, October 21, 2025 | 3:45 pm GMT+7
Vietnam's consumer finance major F88 achieves 90% of year's profit target after 9 months
F88 Investment JSC (F88), a leading consumer finance company in Vietnam, reported a cumulative pre-tax profit of VND603 billion ($22.88 million) in the first nine months of 2025, a 2.5-fold increase year-on-year, reaching 90% of its full-year target of VND673 billion.
Companies - Tue, October 21, 2025 | 3:15 pm GMT+7
Vietnam corporate earnings to be driven by credit expansion, trading activity, property recovery
With Q3 earnings season underway, results are expected to come in broadly in line with expectations. Financials should remain the largest contributors, benefiting from credit expansion and trading activity, while real estate continues to recover as project launches and sales rates improve, writes Tung Dang, associate director at Dragon Capital.
Economy - Tue, October 21, 2025 | 2:33 pm GMT+7




















