Steel prices surge in July

The southern branch of the Vietnam Steel Corporation has raised the price of rolled steel by VND300,000 a tonne, the fourth increase in July alone.

Rolled steel is sold at VND14.26-14.32 million per tonne and sheet steel at VND14.54 million per tonne at the factory.

However, they are VND500,000 per tonne higher than on the market.

Steel prices keep rising due to a low demand in the retail market and there is growing concern that steel producers would drive prices up.

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