VietNamNet Bridge – According to the Ministry of Industry and Trade, imports of steel have increased again since early July after a period of falling down.
The first week of July alone saw nearly 96,100 tonnes imported, an increase of 38.1% over the previous week.
Steel plates have been most imported, with 30,500 tonnes imported, up by 71.5% over the imports of the previous week.
The volume of sheet steel imports during the same time reached over 16,300 tonnes, up by 9.3% over the previous week.
Despite the big imports, import prices have been skyrocketing. The average import price is $948/tonne for steel plates, up by 3.5%, and $855/tonne for sheet steel, up by 11.1% over the average import price in late June.
Stainless steel had the highest import price at $2,680/tonne, increasing by 27.8% over the average price of the previous week.
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Vietnam has three different regions – the North, Central and South – each with different weather patterns and different rainy seasons. This means that there is neither a best time nor a bad time to travel to Vietnam.
Meanwhile, steel prices keep rising on the domestic market. The Vietnam Steel Association (VSA) earlier this month sent a document to the Ministry of Industry and Trade, seeking permission to raise steel prices as ingot steel prices have been increasing dramatically.
Pham Chi Cuong, Chairman of VSA, said that steel mills are now selling steel at prices below ingot steel import prices, and this cannot last for much longer.
