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Steel price market get hot

Update: 06-04-2010 | 00:00:00

 

As surveyed, the steel price has increased sharply by one to two million dong per ton since the beginning of March 2010.

 

After four times of adjustment, the price of rolled steel produced by Vinakyoel, Pomina…has increased by VND1.5mln per ton. Sales agents report that steel bar sold by Vietnam Steel Corporation is now 14.707million dong per ton while the price of rolled steel is VND14.594mln per ton…

 

Noticeably, the retail steel price has seen much difference compared to that announced by producers. For example, the steel price announced by Thep Viet is VND13.7mln per ton while the retail price amounts to VND14mln-VND14.7mln per tons.

 

Despite the price hikes, Vietnam will not face a scarcity of steel. According to the prediction of the Vietnam Steel Association (VSA), around 5.8 tons of steel will be consumed this year, up over 10% compared to 2009. “Since early this year, the finished steel products and ingot steel in stock have reached nearly 2mln tons and 1mln ton, respectively. The amount of the finished steel products of VSA’s members in stock is now over 220,000 tons, which is enough to meet the demand”, said Nguyen Tien Nghi, vice-chairman of VSA.

 

According to VSA, the world ingot steel price has continued to increase by US$10-US$20 per ton. For many reasons, the steel price in the domestic market will further go up, but there will be no suddenness in price and no scarcity of steel products…

 

Reported by Thien Khiem-Translated by K.T

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