Where are steel prices going

Customers shop at Xom Moi Market in HCM City's Go Vap District. The price rises have been blamed on high transportation and feed costs. — VNA/VNS Photo Fruit, vegetable and meat prices increased sharply in HCM City last week amid the prolonged heavy rain in the south and rising gasoline prices. The price of pork has increased by VND15,000-30,000 per kilogramme since early this month to VND120,000-180,000 (US$5.1-7.7), and that of chicken by VND10,000-15,000 to around VND60,000. A kilogramme of pork rib at Ong Dia Market in Tan Binh District costs VND180,000, while bacon is VND160,000 and cutlets, VND140,000. The price of piglets is up 20 per cent from two months ago. The rises have been blamed on high transportation and feed costs. Egg prices have also increased sharply, and they retail at VND4,000-4,300 per chicken egg and VND4,300 in the case of duck eggs. But farmers, however, are still suffering losses because of the high prices of packaging, fuel and other inputs. … [Read more...] about Meat, vegetable prices shoot up in HCM City

"If we do not operate regularly, we will lose our slots at bus stations, but the more we operate, the more we lose because of surging costs," Do Van Bang, CEO of Sao Viet’s parent company, Minh Thanh Phat, said. Sao Viet has reducing the number of trips to cut costs. Bang said the only way to break even is to increase fares by 15-20 percent, but with competition being intense, the time is not right for it. But the company would not be able to absorb the losses for long, he added. The company is one of many to lose due to the 39 percent rise in fuel prices since the beginning of this year. Nguyen Manh Hung, CEO of transport firm International Logistics, said fuel accounts for 40 percent of costs, and so the increases in their prices has affected the company. It is not easy to negotiate price hikes with customers, he said. "We are trying to cut all other expenses to survive the fuel price surge." Half of all fishing vessels in Vietnam have stopped going out to sea … [Read more...] about Industries hit hard by rising fuel prices

Illustrative image (Photo: VNA) Hanoi – Vietnamese airlines are suffering losses amounting to hundreds of billions of VND each month due to a surge in fuel prices, according to director of the Civil Aviation Authority of Vietnam (CAAV) Dinh Viet Thang. At a conference of the Transport Ministry reviewing its work in the first half of the year on June 28, Thang said as fuel costs account for 40-50% of operation costs, revenues increases are not sufficient to compensate for high fuel prices. He said domestic aviation transport has fully recovered with higher growth than in the pre-pandemic period. However, Vietnamese carriers have not fully escaped difficulties due to the slow recovery of the international market. It was reported at the conference that in the first half of the year, the number of international air passengers has increased monthly, from 103,500 in January to 127,000 in February, 224,600 in March, 445,700 in April, 650,000 in May and an estimated 826,000 in June. … [Read more...] about Domestic air transport sees fast recovery, airlines suffer loss due to rising fuel prices

"After the price rise, I went to convenience stores instead, where I thought the prices were reasonable while food also tasted good," the 62-year-old said. "So now I go there two to three times a week." Global food prices surged 23 percent last month from a year before, according to an agricultural arm of the United Nations. The war in Ukraine has impacted supplies of grains from there and Russia, and caused energy and fertiliser prices to soar. Offering cheap instant noodles, sandwiches and "gimbap" (rice rolls) for under $5, convenience stores are gaining in popularity as salaried workers like Park seek ways to cut costs. South Korean convenience shop chain GS25 posted more than 30 percent increases in sales of instant meals in January-May versus a year ago. Seeing increasing demand, GS25 has also launched a new meal subscription service for office workers, which comes with price discounts and deliveries directly to offices. Peers including CU and 7-Eleven have seen similar … [Read more...] about S.Korean office workers hit convenience stores as ‘lunch-flation’ bites

Tan Phu Plastic Company produces safe products to serve the local market. The "Zero Covid" policy of China means many Vietnamese producers lack input materials. (Photo courtesy of the firm) The worst sufferers were the electronics, wood, textiles, and footwear industries. According to the Ministry of Industry and Trade (MoIT), China was an important market for the export and import activities of Vietnam as it provides the majority of input materials for Vietnam's production, especially electronic components, machinery parts, fabrics and chemicals. MoIT said from 50 to 55 percent of raw materials and accessories for the textile, garment, and footwear industries originated from China. The country was currently implementing the "Zero Covid" strategy, which forced many factories there temporarily stop production to fight the pandemic. The import-export activities in the neighboring country were affected a lot by the shortage of containers at ports. Phan Thi Thanh Xuan, Vice … [Read more...] about Local enterprises lack materials due to China’s ‘Zero Covid’ policy

The benchmark started the morning trading session not so smoothly when the demand still hesitated, while the holders were ready to push sell orders when they saw that stocks reached their expected price levels. The cautiousness of both sides made the VN-Index go down slightly in the ATO session. The market continuously shook in the morning trading session when both the buyers and sellers failed to show their superior on the electric board. The market only improved in the afternoon trading session when buy orders above the reference price unexpectedly poured into the group of banking stocks. The green color from the most important stock group in the market was the driving force, helping change the color of the remaining large-cap stocks in the VN30 basket. At the end of the trading session, the VN-Index gained by 15.28 points, or 1.27 percent, to 1,218.1 points. Of the index, 326 stocks emerged, 53 remained unchanged, and 136 sank. Notably, the list of stocks that climbed today … [Read more...] about VN-Index strengthens by more than 15 points, backed by banking stocks