Vietnam steel prices likely to increase VND330,000/ton this week

Local steel prices are likely to rise by VND330,000/ton this week to VND15.53 million a ton, the state-run online newspapers Thanhnien reported on August 30.

This will be the sixth upward adjustment the steel firms have made from the beginning of August, the last adjustment was made on August 26 increasing the steel prices by VND500,000 a ton to VND15.2 million/ton. The steel firms explained that the price hike was attributed to higher prices of steel billet.

Earlier, Vietnam Trade Information Center, the 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.com

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

Posted by VBN on Aug 31 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