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Steel price ripple effect felt across domestic businesses

Steel price ripple effect felt across domestic businesses
08:00 | 19/05/2021
Global steel prices continue to be in sharp focus, with recent record-breaking highs pushing contractors to the wall as well as raising questions on whether steelmakers have been colluding to hike rates, which have shot up drastically since last year.
Analysts say the record highs of steel prices should fall somewhat moving into the second half of the year
Last Thursday the benchmark iron ore price plunged as much as 9.5 per cent in China as market participants paused after a huge rally that had sent prices to new highs in the days preceding it. ....

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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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Construction companies report lower profits due to COVID-19

Wednesday, 13:41, 12/05/2021
Several construction firms have reported a drop in profits in the first quarter of this year due to the COVID-19 pandemic and rising material prices.
A real estate project constructed by Hoa Binh Construction Group
Since the beginning of this year, the prices of construction materials on the market have increased sharply amid worries over shortages of materials and rising demand for economic recovery after COVID-19.
Local brands have increased steel prices by 30-40% compared to the fourth quarter of 2020, putting great pressure on the construction industry, as steel currently accounts for 20% of inputs for construction work.
Not only steel, the price of cement has also skyrocketed. Since mid-April, many cement manufacturers have adjusted the price of products sold with an increase of VND40,000 per tonne. ....

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Construction companies report lower profits due to disease - Economy - Vietnam News | Politics, Business, Economy, Society, Life, Sports

Update:
May, 12/2021 - 08:17
|

A real estate project constructed by Hòa Bình Construction Group. Pre-tax profit of Hòa Bình Construction and Real Estate Corporation (HBC) in Q1 decreased by VNĐ12 billion, down 37 per cent. VNA/VNS Photo
HÀ NỘI - Several construction firms have reported a drop in profits in the first quarter of this year due to the COVID-19 pandemic and rising material prices.
Since the beginning of this year, the prices of construction materials on the market have increased sharply amid worries over shortages of materials and rising demand for economic recovery after COVID-19. ....

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VIETNAM BUSINESS NEWS MAY 12

VIETNAM BUSINESS NEWS MAY 12
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12/05/2021

14:25
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Vietnam’s freeze dried sugar-cane juice patented in US
Vietnam’s dried sugar-cane juice patented in US
Vietnam’s Vinamit Joint Stock Company has announced that its sugar-cane juice and freeze dried sugarcane juice has just been patented by the United States Patent and Trademark Office (USPTO) in the US market.
Over the past two months, the patents were sent back to Vietnam, recognising Vinamit as the inventor of a series of lyophilized beverages made from domestic vegetables and fruits. Sugar-cane juice and freeze dried sugar-cane juice are the newest of these. ....

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