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Cement, steel prices expected to climb
Retail prices of cement and steel products were expected to increase by the end of this year because of unexpected fluctuation on the domestic market.
Nguyen Tien Thoa, Head of the Ministry of Finance's Pricing Department, said the prices would increase because distribution was not adequately controlled and demand was increasing.
Besides, some enterprises did not abide by price stabilisation regulations so the prices would go up in the building season, which began this month, he said.
Meanwhile, steel prices peaked at the end of April and then declined, the Viet Nam Steel Association said.
The retail price of steel in the north is now VND13.6 million per tonne and in the south, VND14 million per tonne, which is VND350,000 lower than at the beginning of June.
Steel producers have increased their discounts from VND200,000 to VND350,000 per tonne.
In the first five months of this year, consumption of steel reached 1.8 million tonnes, 14.69 per cent higher than the same period of last year.
The cement price now is VND1-1.7 million per tonne.
Consumption of cement reached 19.67 million tonnes in the first five months of this year, or 39 per cent of the cement industry's target.
vietnamnews
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