Steel sales declines

From the beginning of September up to now, the price of construction steel tended to stand still, resulting in reduction in steel sales.

Nguyen Tien Nghi, vice chair of Vietnam Steel Association (VSA) said that in the early two weeks of September, the steel billet price in world market stayed at $600 per tonne and waste steel of about $400 per tonne, declining by $20-30 per tonne against that of the previous month.

However, the construction steel price remained at stable level of 13.3-13.9 million dong per tonne (excluding VAT). Some steel mills retained the sales price but increased the commission and discount for the agents.

“Despite the fact that Vietnam at present had to import 45-47 percent of steel billet and 70-80 percent of waste steel, the steel firms still can gain benefits when selling their products at 13.2 million dong per tonne”, Nghi dais.

According to VSA’s prediction, the total steel sales in September may stay at below 400,000 tonnes, decreasing considerably against that of August of 483,000 tonnes. – TBKTVN

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

Posted by VBN on Sep 17 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