According to the Viet Nam Steel Association, the demand for steel in the country is declining and as a result the price has rapidly reduced from 17.5 to 17.3 million per ton.
Consequently, the retail price has also slid from 18.5million per ton in last few days to the current price of 18.2million per ton. So far this month, the price of steel has changed four times.
Experts predict that the price will go on decreasing due to the instability of the world market where the price has changed from US$230 per ton down to US$180 per ton. In the future, another contributor to the decrease in the price of steel will be the cost of materials used to manufacture steel is also declining.