Steel ingot price increases

Steel ingots’ price reached $670-690 per tonne, $40-50 per tonne higher than that quoted at the end of 2010.

The price has spiralled $100 per tonne over that in November 2010.

Steel scraps, used to produce steel ingots, also grew to $530-540 per tonne, up $30-40 per tonne compared to that in the fourth quarter of 2010, according to Nguyen Tien Nghi, vice-chief of Vietnam Steel Association (VSA).

VSA expected January’s steel consumption to be around 440,000 tonnes, a surprising amount though the Lunar New Year is drawing nearer. – Tuoitre

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

Posted by VBN on Jan 28 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