News Room - Steel Industry

Posted on 21 Mar 2008

Vietnam government strides to control steel prices

An upper official document has been issued to ask Vietnam Ministry of Industry and Trade to increase efforts to control steel trading activities. 

The activities include strengthening inspection works, fighting counterfeits and stopping the illegal exports of iron ore across the borders. Another topic is to co-ordinate closely with the Ministry of Finance to avoid cartels or monopoly, increasing the prices of steel end products unreasonably and other violations against the laws.

In the mean time, the Vietnam Steel Corporation (VSC) is requested to manage to increase steel and billet production to meet to the maximum the domestic demands, control steelmakers' selling prices and announcing selling prices publicly on its whole distribution network.