Steel Prices Sharply Rise after Petrol Price Hike
Steel prices in Ho Chi Minh City have soared after the Ministry of Finance July 21 hiked 31 per cent of retail price of gasoline to VND4,500 per liter.
Ø 6-8 steel increased by VND700-VND2,000 per kilogram July 23 while Pomina and Vina Kyoei steel have now climbed VND23 million-VND24 million from VND21 million last week.
South steel is now being priced at VND21.7 million-VND22 million per ton. Ø 16 & 18 steel bars increases to VND396,000-VND495,000/bar (excluding transport fees).
In addition, fees for steel transportation have also increased rapidly. (Vietnam & World Economy)
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