The production plants of VICEM Bim Son. Amid mounting input costs, the producer raised its cement prices by VND70,000 on June 22. — Photo vicem.vn
Mounting fuel and coal costs have been added to cement producers' bills, leaving them no choice but to increase prices.
Price adjustments can be observed in almost all producers, with none willing to hold down prices to see profits eroded. Prices have been adjusted from VND50,000 to VND140,000 per tonne across the sector.
Trung Son Cement increased p30 Cement and PCB 40 Cement by VND90,000 per tonne on June 10. Northern Cement Trading followed suit with price rises of VND70,000 per tonne.
Southern Region Cong Thanh Cement Trading and the Tan Quang Cement got in on the act with price rises of between VND50,000 and VND140,000 per tonne on June 15.
VICEM Ha Long JSC. did likewise five days later, announcing price rises between VND60,000 and VND80,000 per tonne.
The latest price adjustments were made on June 25 by Vissai Ha Nam JSC., the Song Lam Cement JSC., and the Xuan Thanh Cement JSC. They announced price rises of VND60,000 per tonne.
Experts believe that domestic consumption of cement will remain stable despite higher prices, as Viet Nam has been stepping up the disbursement of public money for key transport projects.
Profits are expected to fall in the short term. — VNS