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Vietnamese steelmakers lower prices to boost demand
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It’s reported that the Vietnamese steelmakers have decided to cut the steel prices by VND200, 000~VND300, 000/ton from this week, aiming to push up demand.
Pham Chi Cuong, the Chairman of the Vietnam Steel Association (VSA) said that the steelmakers including Hoa Phat, Thai Nguyen, Vina Kyoei, Thep Viet and Southern Steel have all decided to cut the prices by more than VND200,000/ton.
He added that the other reason for the steelmakers to reduce prices was the price dip of US$15~US$20/ton of the imported raw materials such as scrap and billet.
In addition, the country’s steel consumption remained low at 350,000 tons in last Month.
Affected by these factors, the Vietnamese steel producers have decided to cut the steel prices after several months.
News Date
6/13/2012 8:33:40 AM
reported by
Frio Chou
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