Steel enterprises in Vietnam have faced many difficulties in the past but are expected to rebound in the fourth quarter as steel demand increases as construction works accelerate, the recovery in China boosting global steel demand in 2023, and EU steel buyers seeking cheaper steel in Asia, including in Vietnam. Iron and steel continued to be among of the top 10 items in terms of export value in Vietnam in the second half of September.

After 15 consecutive price cuts, the construction steel price rose VND50-810 ($0.002-0.034) per kilo from August 31. The Tuyen Quang Iron and Steel Company (TQIS) posted the highest increase. According to Rong Viet Securities (VDSC), demand for construction steel will recover further and steel prices will increase in the future.

Vietnam’s commercial real estate market has recovered strongly since the end of 2021. Hotels have been busy welcoming tourists now that social distancing measures have been lifted. The retail space and demand for office space for lease have also increased thanks to solid FDI attraction. These provide a foundation for real estate to become active once again in 2022.