Cement, Steel Prices Forecast to Rise 5%-10% This Month

Prices of cement and steel in Vietnam in April are forecast to rise 5% and 10%, respectively, from the end of March due to increasing input costs, the Ministry of Finance’s Price Management Department said.

Currently, steel retail prices are offered at VND13.1 million and VND13.2 million per ton, up VND800,000 against early 2010.

The department forecast steel prices in the domestic market will rise at least 10% this month as prices of iron ores, steel ingot and scraps, and power remain high compared to that of 2009.

Cement producers in Vietnam are estimated to increase their prices around 5% or VND50,000 and VND70,000 per ton in April from the end of March though they had raised their prices by 5% in January and 4% in February.

The Ministry of Construction estimated the country’s cement consumption and output stood at 10.27 million tons and 11.13 million tons in the first quarter of this year, respectively.

Vietnam’s steel output rose 7.2% on-year to 1.2 million tons in Q1, the department said, adding that the country had 250,000 tons of steel and 110,000 tons of steel ingot in stock in late March.

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Tags: Vietnam cement industry, Vietnam cement prices, Vietnam steel industry, Vietnam steel prices