Vietnam Deputy PM Orders for Control of Steel Prices
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Vietnam Deputy PM Orders for Control of Steel Prices

VN Express reported that after steel prices in Vietnam have experienced a 40-50% surge since the beginning of the year, Vietnam’s government has asked

VN Express reported that after steel prices in Vietnam have experienced a 40-50% surge since the beginning of the year, Vietnam’s government has asked steelmakers to implement several steps to control rising steel prices that are hurting construction contractors. Vietnam’s Deputy Prime Minister Mr Le Minh Khai has asked the Ministry of Industry and Trade to push for increased domestic steel production towards stabilizing prices. He also said the export of steel should be lowered to ensure that local demand is met.

According to the Vietnam Steel Association, steel production in Q1 reached 7.6 million tonnes, a year-on-year increase of 34% and steel exports rose 59.5 % YoY to 1.6 million tonnes, according to the VSA.

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