Latest News |
Henan Jiyuan I&S orders Danieli EWR to upgrade its bar mill 03 August 2020 |
INTERVIEW: JSPL's steel export thrust to taper amid Indian market recovery 03 August 2020 |
New slab grinder plant operating at Posco Pohang, Korea 03 August 2020 |
China July steel PMI slipped marginally to 49.2% 03 August 2020 |
CIS billet exports slow, but prices yet higher 03 August 2020 |
![]() |
![]() |
![]() |
![]() |
Vietnam begins probe into steel price hike
Source: Steelguru- 15 Aug 2007
It is reported that a Vietnamese government team comprising of inspectors drawn from the Vietnam's ministries of finance and trade & industry has begun a week long inspection of 5 major steel firms as part of a probe into the recent steel price hike criticized as unjustified by authorities.
The team would appraise production costs at the Thai Nguyen Iron & Steel Company, Vinausteel Company, Dinh Vu Steel Company, Southern Steel Company and Vinakyoei.
The government decided earlier this month to carry out the study saying the steel price hike had hurt economic growth. It had said that it is a burden on consumers and set back the progress of major construction projects, it said.
The finance ministry's price management department had demanded detailed reports from steel manufacturers about their production costs and import prices. The manufacturers, however, refused citing competition.