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Steel prices in Vietnam likely to increase next month
Posted on 19 November 2007
Source: BVOM, November 18, 2007
The Vietnam Steel Association (VSA) on November 18 forecast that the price of steel will surge in the remaining months of this year as
Currently, the price of construction steel from plants is around VND10-12 million per tonne.
Meanwhile according to steel businesses, if the export tax on Chinese steel ingots increases by 10 percent and the Vietnamese import tax remains at 2 percent as at present, the price of imported steel ingots will surpass US$650 per tonne and the price of domestic steel will be more than VND13 million per tonne. Therefore, the price of steel on the domestic market is expected to rise.