It is reported that Vietnam steel billet makers are anxious to export more capacity due to falling domestic demand.

Two of major producers, Van Loi Steel and Dinh Vu Steel are planning to export an estimated 10,000 and 30,000 tonnes steel billets to the Philippines and Southeast Asia due to inflation control on the part of the government.

Vietnam steel billet export price has been marked at USD 800 per tonne which is lower than the regional prices, but the domestic market price has already increased up to USD 950 per tonne.

This may result in the regional producers looking for material in the domestic market instead of importing stock from overseas.