Steel prices go up

Many steel companies in the south increased their steel prices on February 18 by VND300,000-500,000 per tonne.

As a result, the price of steel is now between VND17.7 million and VND18 million per tonne (including value added tax – VAT).

The surge is attributed to the sharp increase in the price of steel ingot on the world market over the past few weeks. Fluctuations in bank interest rates and US dollar exchange rates have also had an impact on rising production costs.

This is the second time in February that steel companies have increased their prices. So far this month the price has risen by VND1-1.2 million per tonne. – VOV

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

Posted by VBN on Feb 19 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