Wednesday, August 21, 2019 12:51:35 PM - Markets open
VN-INDEX 991.80 +7.13/+0.72%
HNX-INDEX 103.02 +0.04/+0.04%
UPCOM-INDEX 57.82 +0.10/+0.17%
Building material prices on the rise
Vietnam News - 6/13/2019 1:47:05 PM
 (0 ratings. You must sign in to rate.)
The cost of building materials has been on the rise due to increasing electricity tariffs at the peak time for construction.
Many shops selling materials such as cement and steel have increased their prices since the beginning of this month.
The SCG Cement – Building Material Việt Nam Company Ltd announced to its distributors it was raising the cement price by VNĐ29,700 per tonne including value-added tax (VAT) starting this Sunday.
Vicem Hoàng Mai Cement Joint Stock Company has also increased prices by VNĐ30,000 per tonne including VAT from the beginning of this month.
SSE Steel Company said the price of steel billet and other input materials had been hiked.
Vice chairman of the Việt Nam Steel Association Nguyễn Văn Sưa said the power price rise of 8.36 per cent since March had made steel prices increase by VNĐ100,000 per tonne. In steel production, electricity prices often account for 8 to 9 per cent of total costs.
Statistics from the association showed that steel producers using electric arc furnaces for production were affected most by the power tariff hike. The total steel output from companies using electric arc furnaces accounts for 65 per cent of the country’s total steel output.
He said high iron ore prices were also a major reason for enterprises to increase selling prices of finished steel products. The main factor causing the sharp increase in iron ore prices was a dam collapse in February at Brazil's Vale - the world's largest ore mining group.
According to Vale's estimates, sales of iron ore in 2019 would fall by 75 million tonnes from previous expectations. The most optimistic scenario was for sales to fall by about 50 million tonnes from the previous forecast.
In addition to steel and cement, the prices of other building materials this month were higher than the previous month.
Ceramic tiles prices increased by VNĐ1,000-2,000 each. — VNS
Read original article here
Newer News
15/08 Vietnam among 12 most valuable markets for global franchise expansion
14/08 Logistics market sees wave of investment from Japan, RoK
13/08 Scheme approved to promote sharing economic model
12/08 VN start-ups eyeing the world must have global mindset: forum
10/08 VN start-ups eyeing the world must have global mindset: forum
08/08 China's prolonged falling yuan may harm Việt Nam's trade
07/08 Vietnam investigates anti-dumping on imported plastic products
06/08 Tuna exports to Italy shoot up 60 percent in H1
05/08 28 items see import value of over 1 billion USD in seven months
04/08 Labour-related difficulties lie ahead for Vietnamese textile firms
Older News
12/06 Government to crack down on trade fraud
12/06 Fitch sees positive outlook for Việt Nam
11/06 Việt Nam becomes second largest exporter of lychees
11/06 Public debt within permissible limit: Finance Ministry
10/06 Vietnam’s watch market worth about 750 million USD per year
10/06 Vietnam to lift cross-border trade transaction index
07/06 100 Vietnamese firms to list products on Amazon
06/06 New Zealand helps Việt Nam add value to its dragon fruit
05/06 Experts of Vietnam, Russia discuss cooperation in economic globalisation
05/06 VN hopes to enter MSCI watchlist this year, but experts are uncertain
Newsletter Signup
Top Stories
Post-merger stock exchange headquarters in Hanoi
Listed companies honoured for best investor relations
Reference exchange rate up 2 VND on August 7
VN has trade surplus of about $1.6 billion in H1
Trade pacts bring opportunities for seafood industry's sustainable growth
Market Update
Last updated at 1:09:59 PM
VN-INDEX 991.80 +7.13/+0.72%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.