Steel prices today 14/10 recorded that domestic steel prices continued to fall deeply. Thu Duc Steel (TDS) reported a loss of 22 billion dong in the third quarter of 2022
Steel prices in the North
Steel price today recorded Hoa Phat steel brand continuing to reduce selling price, with CB240 coil line down 210 dong, to 14,500 dong/kg; rebar D10 CB300 deeply reduced 700 dong, priced at 14,600 dong/kg.
Vietnam Italy steel brand is at the lowest level in the past 30 days, currently CB240 coil continues to decrease by 210 VND to 14,510 VND/kg; rebar line D10 CB300 reduced by 300 dong, priced at 14,720 dong/kg.
Viet Duc Steel, currently CB240 coil line decreased by 210 dong, down to 14,350 dong/kg; and D10 CB300 rebar reduced by 300 dong, priced at 14,660 dong/kg.
VAS steel brand, with CB240 steel coil remained unchanged at 14,510 VND/kg; D10 CB300 rebar line is priced at 14,770 VND/kg.
Viet Sing Steel, currently CB240 coil recorded at 200 dong, down to 14,310 dong/kg; D10 CB300 rebar is priced at 14,510 VND/kg.
Vietnam-Japan Steel adjusted to reduce prices, with CB240 coil line down 200 dong, priced at 14,310 dong/kg; rebar D10 CB300 at 14,510 VND/kg.
Steel prices in the Central region
Hoa Phat Steel continued to reduce its selling price, with CB240 coil line decreasing by 200 dong, to 14,310 dong/kg; Rebar D10 CB300 reduced by 300 VND, priced at 14,820 VND/kg.
Viet Duc Steel reduced its selling price for 2 consecutive days, CB240 coil line down to 14,620 VND/kg; D10 CB300 rebar is priced at 15,020 VND/kg.
VAS steel in the central market adjusted down, with CB240 coil down 200 dong, to 14,260 dong/kg; Rebar D10 CB300 decreased by 310 VND, priced at 14,360 VND/kg.
Pomina Steel, currently CB240 coil line decreased by 100 dong, down to 15,730 dong/kg; However, the D10 CB300 rebar line remains unchanged at VND 15,940/kg.
Steel prices in the South
Hoa Phat Steel simultaneously dropped deeply, CB240 coil line decreased by 210 dong, to 14,360 dong/kg; meanwhile, rebar D10 CB300 decreased by 300 dong, priced at 14,570 dong/kg.
Pomina Steel, with CB240 coil line, decreased by 200 dong, to 15,580 dong/kg; Rebar D10 CB300 reduced by 200 VND, priced at 15,680 VND/kg.
VAS steel, CB240 coil line at 14,410 VND/kg; and with rebar D10 CB300 cost 14,720 VND/kg.
Thu Duc Steel reported a loss of 22 billion dong in the third quarter of 2022
Thu Duc Steel Joint Stock Company – Vnsteel (stock code TDS) has just announced its own financial statements for the third quarter of 2022 with net revenue of VND 406.5 billion, a slight increase over the same period due to increased consumption. COGS increased more than revenue with 427.1 billion dong, so gross profit was nearly 21 billion dong.
At the end of the third quarter of 2022, Thu Duc Steel reported a loss of 22 billion dong, the same period lost 644 million dong.
Explanation of fluctuations, TDS caused by the effects of the global economic recession, high inflation, world wars leading to slow consumption of goods, high inventory prices, material prices unusually volatile purchases. The selling price was not enough to cover the cost of capital, causing a loss in gross profit in the third quarter. In addition, interest expense is also a burden for the company when goods are sold slowly and banks tighten credit room as well as high interest rates.
Accumulated 9 months, 1,518.4 billion dong, down 8% compared to the same period last year. Cost of goods sold is equivalent to revenue with VND 1,514.5 billion, so gross profit this period decreased by 95% to VND 3.9 billion.
Financial income dropped sharply by 57.3% to 657.6 million dong, while expenses jumped 646% to nearly 6 billion dong, interest expense accounted for 81% to 4.9 billion dong.
Accumulating 9 months, Thu Duc Steel’s after-tax loss is nearly 16 billion dong, while the same period’s profit is 46.3 billion dong.