Plastic Products, Steel Prices Go up
Plastic home appliance producers in Vietnam have recently raised prices on their products, while local steel trading enterprises plan a price hike next month, local media reported.
Prices of plastic home appliances and electric fans in Ho Chi Minh City have gone up by 5-10 per cent.
The situation is attributed to material scarcity and expensive inputs. Plastic materials are priced at US$1,450-1,750/ton, an increase of 15 per cent from earlier this year.
Meanwhile, steel prices will increase by VND400,000-450,000 (US$25-28.12)/ton in June and July, due to the increase in China’s steel export tax from 10 per cent to 15 per cent, to take effect next month.
Rolled steel is currently marketed at VND9.4-9.5 million (US$585-593)/ton and steel billets at VND9.7 million (US$606).
According to the General Statistics Office (GSO), Vietnam spent US$731 million importing plastics in the first four months this year, up 34.8 per cent on-year, while plastic product exports were valued at US$193 million in the period, up 44.9 per cent on-year.
The country produced 1.44 million tons of steel, up 31 per cent on-year, but imported over 2.28 million tons of steel and iron valued at more than US$1.28 billion in the first four months this year, up 72.9 per cent on-year. (Vietnam & World Economy, Laborer)
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