According to the Vietnam Steel Association, the prices of steel increased as the prices of raw materials for steel production unexpectedly jumped in the global market. Experts forecasted that this year, domestic steel demand would rose by 3-5 percent compared to last year as large-scale infrastructure projects have been implementing, such as the North-South Expressway, the Trung Luong – My Thuan – Can Tho Expressway, and Long Thanh International Airport.
Similarly, since mid-April, several cement enterprises have raised their prices by VND30,000-VND40,000 per ton, included value-added tax, depending on the brand. Cement manufacturers explained that the costs of input raw materials continuously surged, causing the product price to go up.
By Lac Phong – Translated by Bao Nghi