Pham Chi Cuong, Chairman of Vietnam Steel Association (VSA), said days ago that steel was currently VN$17-19 million (US$795-889) per ton, but the price of finished steel products is expected to mount by 0.6~0.7﹪due to higher cost of electricity. Vietnam is estimated to produce 6.7 million tons of steel in 2011, 4.2﹪higher than last year. Meanwhile, the demand for steel ingots is expected to be 6 million tons, and Vietnam would have to import a further 2 million tons to cover domestic demands.

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Baosteel and Wisco Open Flat Prices in April

2011-03-21

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