Posted on 09 Oct 2007
The Ministry of Finance (MOF) of
The price policy is to ensure profit for its local steel producers. A member of Vietnam Steel Association (VSA) said that it would be better to let the market define the selling prices. If domestic enterprises sell steel at overly high prices, customers will buy imported steel, leaving domestically made products unsold. The local steel producers may stop production to avoid loss, and the market will face a steel shortage.
In the past nine months of year 2007, the total imports have upped by 28.9 percent and 57 percent for steel billets and finished products respectively.
