Price of steel rises by VND350,000 per tonne

The Vietnam Steel Corporation on May 25 increased the price of steel in the South by VND350,000 per tonne for rolled steel and VND150,000 per tonne for bar steel.

Rolled steel is now selling for VND10.59 million per tonne and the price of bar steel stands at VND10.84 million per tonne.

The increase in the prices of steel are due to the prices of steel ingots imported in May rising by US$10-20 per tonne against April.

The Ministry of Industry and Trade has issued a memo requesting all cities and provinces to be prompt and check projects that produce steel to clearly define which projects should continue and which projects should have their licenses withdrawn.

vov

>   Vinaphone to launch 3G services in August (26/05/2009)

>   New shopping complex opens in Ho Chi Minh City (26/05/2009)

>   Development of economic groups discussed (26/05/2009)

>   Mekong Delta in dire need of qualified workers (26/05/2009)

>   Five-month FDI drops by 76.3 percent due to recession (26/05/2009)

>   Drinking the world’s most expensive milk (25/05/2009)

>   Pleasing growth for direct selling (25/05/2009)

>   Paper production increases 12% (25/05/2009)

>   VinaPhone slashes Yahoo!SMS messaging service charge (25/05/2009)

>   Food silos to be built (25/05/2009)