Steel price remains at stable level in Q4

In Q4, it is predicted that the material price would stand still or decrease slightly due to the decline of 13 percent in steel ore price against the previous quarter, and slowdown in global economic recovery. In domestic markets, the steel production and consumption saw a slight fall in September.

It was estimated that there were about 230,000 tonnes of stockpiled steel, and 500,000 tonnes of steel billet. By the end of the last quarter of 2010, the steel price was forecasted to remain at stable level or increase slightly thanks to effects from the world price of raw materials.

The construction steel dropped after increasing continuously in the first three weeks of September due to slow consumption and effects from the declining trend of world’s steel billet price. In late September, some steel producers lowered the steel price by 150,000-400,000 dong per tonne.

Due to slow consumption, some retailers also reduced the sales price of steel products by 100,000-200,000 dong per tonne compared to that of the producers. At present, the steel price was posted at 14.8-15.4 million dong per tonne in the northern region and 15.4-15.6 million dong per tonne in the southern region. – Kinh te VN va The gioi

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

Posted by VBN on Oct 11 2010. 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