Steel prices continue to increase

After steel price increase in July, it remained 13 million dong per tonne. Additionally steel billet import of Vietnam reached to 70 percent therefore it may continuously increase in September due to increase of steel consumption, said Nguyen Tien Nghi, VAS vice chair.

Previously, after four price decreases during April and May, it has started to increase 500,000 dong to 800,000 dong per tonne in July. It is blamed for increasing trend in the steel billet price in the world market from $500 to $560 per tonne and steel scrap from $350 to $380 each. Thus Vietnam’s steel price will increase in next months.

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

Posted by VBN on Aug 12 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