Several steel products saw a surge in productivity in May. The bar and angle steel products showed the highest increase of 22.5%, following by rolled steel with 21%.
Statistics from Vietnam Steel Association showed that in the first four months of the year, steel consumption has seen a strong increase of 1.3 million tonnes, posting 49% year-on-year rise.
The association forecast that domestic steel prices would be increased 10% to VND11.4 million (US$506) per tonne in the upcoming times.