Construction steel price increases 200,000-400,000 dong/tonne

In July, steel consumption of members in Vietnam Steel Association (VSA) reached about 350,000 tonnes, down 30% from the monthly average level.
However, in August the steel consumption was up to 470,000 tones and it is expected at 480,000-500,000 tonnes in September, the local newswire VnExpress said on its website on September 13.

The steel price increased by 200,000-400,000 dong per tonne. The price (excluding value added tax-VAT) at factories plus transport fee will be about 15.6 million dong per tonne. The retail price in the market hovers about 17.5-18 million dong per tone.

According to Pham Chi Cuong, VSA’s chairman, in July, many enterprises had to adjust down the steel price by 500,000-600,000 dong per tone. However, in August and early September, the consumption increased and enterprises also recovered the steel selling price to offset for losses in previous months.

According to VnExpress, almost iron and steel firms, including Thai Nguyen and Vietnam-Australia Steel also adjusted up the steel price.

From the end of August so far, the input material price increased slightly, and steel billet and scrap steel also increased by $10-15 per tone to $680-690 per tone and the price of scrap steel also jumped to $470-480 per tone. – Vietbiz24

Tags: Vietnam steel industry, Vietnam steel market, Vietnam steel prices

Posted by VBN on Sep 14 2011. Filed under Steel. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry