A series of steel enterprises have reduced their selling prices for the third time since early May by between VND 50,000 and VND 400,000 per tonne according to the different categories of steel. The reduction level is lower than that at the previous two times due to a reduction of around US$40 – 50 per tonne in steel billet price and the fact that construction market is coming to a standstill because the rainy season started.
The Vietnam Steel Corporation has announced a reduction of its steel prices by around VND 50,000 – 100,000 per tonne to VND 12.6 – 12.65 million per tonne for rolled steel and about VND 13.1 million for steel bars. The Vietnam Steel Joint Stock Company has sharply reduced its selling prices by around VND 300,000 – 400,000 per tonne to between VND 12.5 million and VND 13.1 million per tonne.
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