Steel Prices Drop to VND10Mln/Ton
Ho Chi Minh City-based VNSteel headquarter continues to slash factory steel prices to more than VND10 million per ton, down VND950,000/ton compared with that in late October this year.
At present, factory prices of rolled steel and steel bars are VND10.1 million-VND10.2 million/ton and VND10.4 million/ton, respectively.
This is the first price cut by the Vietnam Steel Corporation, or VNSteel in November. Private and joint venture companies have adjusted their prices close to VNSteel’s.
According to Pham Chi Cuong, chairman of Vietnam Steel Association (VSA), steel sales of VSA members in the first ten days of November were still very flat. In October, steel sales were reported at merely 100,000- 120,000 tons. (Youth)
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