Vietnam steel prices increase by VND500,000 Mln/Ton

Pomina steel company increased prices of rolled steel by VND330,000VND/ton, steel bars by VND495,000/ton

Pomina steel company increased prices of rolled steel by VND330,000VND/ton, steel bars by VND495,000/ton, to around VND15.2 million/ton from August 26, the state-run online newspaper Tuoitre reported August 26.

This is the 5th upward adjustment the steel firm has made in August, the last adjustment was made on August 23 boosting the steel prices to top VND15 million a ton. The steel firms explained that the price hike was attributed to higher input of steel billet.

The southern branch of Vietnam Steel Corporation also raised rolled steel and steel bars prices by between VND150,000 and VND400,000/ton, pushing the steel prices to VND15.42 million/ton

In the market, retail prices of steel are around VND15.25 million/ton.

Earlier, Vietnam Trade Information Center, Ministry of Industry and Trade(MOIT), estimated that the world steel prices might increase in the coming time partly as a result of India’s 20% increase in steel export tax. – Stoxplus

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