Steel price rises as construction resumes

The prices of building materials in Ho Chi Minh City have bounced back by 20-30 percent after languishing for a long time following the resumption of construction activity.

The Vietnam Steel Association said demand for structural steel has risen by 1.2 percent in the first five months to 1.5 million tons.
 
Rolled steel prices have risen by VND100,000-200,000 a ton since last month to around VND10.64 million.

Thep Viet Co. said it sold 55,000-60,000 tons of steel in the last two months, 70 percent of it for unfinished construction works from last year.

The demand for cement rose 10 percent year-on-year in the first five months, dealers said.

Hoang Thach Cement Co., a unit of the Vietnam Cement Corp., said it sold 105,900 tons of cement more than in the same period last year but refused to reveal how much it has sold.