Domestic steel enterprises suffer falling demand

The high prices of raw materials have caused domestic steel companies to increase selling prices many times to compensate for production costs and reduce losses.

In the context of weak domestic steel demand and rising costs pushing up global commodity prices, the selling prices of finished steel are increasing slower than the prices of input materials.

Analysts say that the business performance of construction steel companies is still insignificant.

According to the Viet Nam Steel Association (VSA), steel prices have continuously increased mainly due to the fact that input prices of input materials for steel production such as coal, iron ore, scrap steel, and hot-rolled coils are still climbing.

VSA believes that the high prices of raw materials have caused domestic factories to increase selling prices many times to compensate for production costs and reduce losses.