Vietnam. World costs push up domestic steel prices

Vietnam. World costs push up domestic steel prices. Steel prices have begun rising again in the Vietnamese domestic market, according to the Viet Nam Steel Association (VSA). The prices rose by VND100,000 (US$5) to VND500,000 ($25) per tonne since early May to betweenVND12.2 ($642) and VND12.8 million ($673) at present, VSA said. VSA deputy chairman Nguyen Tien Nghi attributed the increase to higher steel ingot and used steel prices in the world market. VSA estimates steel consumption in July at 360,000 to 390,000 tonnes, more than 30,000 tonnes over June and 100,000 tonnes over May figures.