Steel price surges additional 500,000 dong per tonne

During the past week, some steel producers have adjusted to increase by additional 500,000 dong per tonne. Accordingly, Pomina Steel Joint Stock Co continued raising the steel price at the fifth time in August 2010 by 330,000 dong per tonne for scrolled steel; 495,000 dong per tonne for steel bar, therefore the steel price to be delivered at the mills would fluctuate at 15.1-15.2 million dong per tonne.

The price released by Vietnam Steel Corp (VNSteel) – the southern branch also surged by 150,000-400,000 dong per tonnes for two products of scrolled steel and steel bar to 15.36-15.42 million dong per tonne. The retail price for steel products also stood at 15-15.25 million dong per tonne.

The steel firms explained the sharp jump in steel price was due to the climbing-up trend in prices of steel billet and waste steel, as well as difficulty in purchasing foreign currencies for import purposes.

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

Posted by VBN on Aug 31 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