The price of steel rose by VND300,000 per tonne to VND12.3 million per tonne for rolled steel, and VND12.1 million for steel bars, according to the Vietnam Steel Association (VSA).
This is due to the world increase in the price of steel ingots by US$5-10 per tonne to US$470-480. However, by the end of November around 225,000 tonnes of steel had remained in stock.
Every month Vietnam imports around 55,000 tonnes of steel from Malaysia, Thailand and Indonesia. Their prices are VND500,000-VND700,000 lower per tonne than domestic prices.
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