Steel Makers in Vietnam Continue Raising Prices
Steel producers in Vietnam continued increasing steel prices by VND300,000 ($15.39) per tons for rolled steel and steel bar from November 15.
This was the second consecutive price hike since early this month with a combined increase of VND600,000 per ton.
Vietnam Steel Corporation (Vnsteel), Pomina Steel Co. Ltd. or Pomina (POM) and Vina Kyoei Steel Ltd., Co. were among producers applied price hikes yesterday.
Ex-work prices of Vnsteel (excluding VAT) now stand at VND14.52 million and VND14.81 million per ton of rolled steel and VND14.57 million and VND15.27 million per ton of steel bar.
The Vietnam Steel Association (VSA) estimates Vietnam’s steel sales rose to 448,000 tons in October. The figure is forecast to stand around 400,000 tons per month in the last two months of this year, respectively. (Young People)
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