Steel prices rise slightly

Steel producers have increased their prices by VND100,000-150,000 a ton since April 11, said wholesalers and traders.

Steel rolls were sold for around VND9.7-9.85 million a ton and steel rods at VND10.50 million a ton.

Deputy chairman of Vietnam Steel Association, Nguyen Tien Nghi, said domestic steel prices were increased because the world price for steel ingots has risen to US$420 a ton, up from $360 March 21, while the price of steel ingots from Russia and Ukraine last month was fetching $300 a ton.

Some experts said the increase of import tariffs on steel ingots to eight percent, from five percent, and the injection of money into key projects helped increase domestic prices.

By A. Kiet – Translated by Sao Khue

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