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Skyrocketing material prices place duress on contractors


Skyrocketing material prices place duress on contractors
08:00 | 12/05/2021
Skyrocketing material prices places duress on contractors, Illustrative image. Photo: VNA
The Vietnam Association of Construction Contractors (VACC) has sent a document to the Government Office calling for help to protect Vietnamese contractors from the risk of bankruptcy due to the sudden dramatic increase in steel prices in the first quarter and early days of last month.
According to the association, steel prices have increased by 30-40 per cent compared to the end of the fourth quarter of 2020. In addition, the price of sand, bricks, and cement surged, leading to construction costs flying way past estimates. ....

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Steel producers post outstanding results in Q1 | Business


The Hoa Sen Group s employee checking products in a warehouse. The company s
profit after tax rose over 200 per cent year-on-year in Q1. (Photo: hoasengroup.vn)
Hanoi (VNS/VNA) - The surge in prices of steel since the beginning of
2021 helped many
steel producers record good performance in the first
quarter. 
Rebar futures contracts, trading on the Shanghai Futures Exchange, increased
sharply due to supply chain disruptions caused by the COVID-19
pandemic. 
The most traded May rebar contract climbed 17.4 percent this year and traded at
5,101 yuan per tonne. The rebar price rose 51 percent compared to April
2020. 
In its first quarter finance result, ....

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Steel prices hiked by Rs 5,000 a tonne on global rally, iron ore rises too


After a pause, prices of steel and iron ore are on the rise. Steel companies have increased prices by up to Rs 5,000 a tonne beginning April while state-owned iron ore producer, NMDC has hiked prices of lump ore by Rs 500 a tonne.
Steel producers said that prices of hot rolled coil – a benchmark for flat steel (used in automobile, domestic appliances and construction) – have been increased by Rs 4,500-5,000 a tonne; prices of long steel (used in infrastructure and construction) have increased by up to Rs 3,000 a tonne.
Post-increase, the price of HRC is at Rs 57,600; in longs, TMT is at Rs 52,500. The increase in steel prices is led by a surge in global prices. ....

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