The global crisis is pushing down prices of economic inputs including crude oil, steel ingots and construction steel, including Vietnam; however, prices of these inputs are nearly double in the Asean country.
Retail gasoline prices are offered at VND13,000/liter, or US$750/metric ton, doubling the global prices of US$350-US$420/metric ton, construction steels are sold at VND10 million to VND11 million, or US$600/ton in Vietnam, compared with steel ingots offered at US$300-US$320/ton at London metal market dated Nov 21.
Importers have attributed the disparity in prices to inventories bought at high prices, the department said. So far there are three million tons of steel valued at US$2.1 billion in stock, including 700,000 tons of steel ingots and 500,000 tons of scraps.
The ministry proposed that measures should be taken to further push down prices of economic inputs.
To boost sales of steel inventories, the State Bank of Vietnam, the country’s central bank, and the prime minister recently signaled funneling cash into effective realty projects.
The prime minister also said the government of Vietnam will boost investments to stimulate the economic growth in the face of the global downturn, state media said. (Vietnamnet.vn)
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