After months of consecutive price increases, domestic construction steel prices have shown the first signs of cooling down since the beginning of 2026. The price adjustments by a number of major steel manufacturers are bringing expectations of greater stability to the construction industry amidst persistently high raw material costs.
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Steel prices fell for the first time after several consecutive increases.
According to market observations in early June, many major steel manufacturers such as Hoa Phat, Viet Duc, and several other construction steel companies have simultaneously adjusted down the selling prices of steel coils and ribbed steel bars. The reduction ranges from 150 to 300 VND/kg depending on the product type and consumption area.
In the northern region, the price of steel coils decreased by approximately 170 VND/kg, CB300-V ribbed steel bars decreased by approximately 250 VND/kg, and CB240-T steel coils decreased by approximately 150 VND/kg. Meanwhile, the central market recorded a more significant adjustment, with steel coils decreasing by approximately 220 VND/kg and CB300-V steel decreasing by as much as 300 VND/kg.
This is considered the first price reduction after a series of increases since the beginning of the year. Previously, many steel manufacturers continuously adjusted their selling prices upwards due to pressure from rising input costs and recovering consumer demand. In late March alone, some companies increased prices by 300,000 to 600,000 VND per ton.
Cost pressures continue to keep prices at high levels.
Despite some downward adjustments, current steel prices are still considered significantly higher than the same period last year. According to construction material businesses, steel prices have increased by approximately 350,000 – 600,000 VND/ton since the beginning of the year and have fluctuated around 16.2 million VND/ton.
The supply of steel on the market remains stable. However, the price of construction materials in general has little chance of falling significantly due to the influence of several factors such as increased transportation costs, fluctuating fuel prices, and the gradually recovering demand for civil construction.
Experts believe that the current decline is primarily a technical correction after a period of rapid increase. Simultaneously, lower-than-expected demand coupled with the downward trend in iron ore prices on the world market are also contributing factors to the decline in steel prices.
The domestic construction steel market has shown the first signs of cooling down since the beginning of 2026.
Construction contractors expect to reduce cost pressures.
For construction companies and contractors, the price reduction for steel, while not significant, is still seen as a positive sign. Steel is always one of the materials that accounts for a substantial proportion of the total cost of construction projects.
Stable or slightly declining steel prices can help construction companies be more proactive in budgeting, controlling costs, and improving the financial efficiency of ongoing projects.
Many experts believe that if market demand does not show significant improvement in the near future, steel prices may continue to remain stable or decline slightly in the short term.
Construction material prices still vary between regions.
While steel prices have started to cool down, many other construction materials remain high, especially in areas with significant infrastructure investment needs.
In Hanoi, the price of yellow sand currently ranges from 550,000 to 700,000 VND/m³, 1×2 crushed stone is commonly priced from 420,000 to 520,000 VND/m³, and fired clay bricks from 1,450 to 1,750 VND/piece.
Meanwhile, in Ho Chi Minh City and the Southeast region, the demand for materials for ring roads, expressways, and transportation infrastructure projects caused the price of concrete sand to sometimes exceed 700,000 VND/m³. The price of construction stone in Dong Nai and Binh Duong also recorded a sharp increase, even exceeding 700,000 VND/m³ for orders delivered directly to construction sites.
The market will continue to monitor price developments in the coming months.
With many key infrastructure and real estate projects being accelerated, steel price movements will continue to be a factor closely monitored by construction companies, investors, and material suppliers.
Although this latest price adjustment is not enough to create a major change in the overall price level, it is still a positive sign indicating that the steel market is entering a more balanced phase after a long period of rapid growth. If factors related to supply, demand, and global raw material prices continue to be favorable, the market can certainly expect more sustainable stability in the future.
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