Domestic steel prices climb

The Vietnam Steel Association said that local steel prices have increased by VND200,000-300,000 a ton over October.

Explaining the price surge, association Chairman Nguyen Chi Cuong said that two months ago, steel prices in China dropped due to a surplus but began moving up again in mid October.

vietnam steel industry

In addition, the strengthening of the US dollar against the dong also caused prices to increase, he said.

A ton of steel in the domestic market now costs VND11-11.5 million, which is VND300,000-500,000 higher than in foreign markets.

Some experts say steel prices could continue to rise slightly until the end of the year.

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Posted by VBN on Dec 6 2009. 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

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