It is reported that steel makers in Vietnam are increasing export of steel billets even with the shortage in domestic market, which leads production difficulties for many Vietnamese producers.
As per report, the export prices of billets are at USD 1,200 to USD 1,300 per tonne, while the domestic cost is about USD 1,000 per tonne for construction grade steel in the Vietnamese market.
Moreover, the domestic steel prices are soaring in Vietnam because steel production has been cut by 20% to 30% to save their steel ingots for export.
