Steel prices rise by VND300,000/tonne

The Mien Nam Steel Company under the Vietnam Steel Corporation and some other companies have decided to raise their steel selling prices by VND300,000 per tonne.

Accordingly, the price of rolled steel increased to VND11.62 million per tonne from VND11.47 million previously and the price of deformed bars hit VND12.17 million per tonne (previously VND11.62 million.)

Sheet steel is also priced VND2 million per tonne more expensive than in July.

These rises are attributable to the increases in the prices of steel ingots, and fuel, said Nguyen Tien Nghi, Vice Chairman of the Vietnam Steel Association.

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