Vietnam goverment control rebar prices

According to a new document issued by the governmental office, Mr Hoang Trung Hai deputy prime minister of Vietnam has ordered the Vietnam’s ministry of industry and trade to increase efforts to control steel trading activities.

As per the document, the ministry of industry and trade is requested to order its relevant agencies to strengthen inspection works to fight speculation, thus rigging the steel market and fight counterfeits to create a healthy and equal environment, as well as stop the illegal exports of iron ore across the borders.

The ministry of industry and trade is also urged to co ordinate closely with the Ministry of Finance to seriously deal with cartels or monopoly, increasing the prices of steel end products unreasonably as well as other violations according to the laws.

The deputy prime minister also the Vietnam Steel Corporation is requested to strengthen steel and billet production to meet to the maximum the domestic demands; control effectively its selling prices and announcing publicly their selling prices on its whole distribution network. The minister actively urge their members to boost management, practice thrift to reduce production costs thus, helping reduce steel prices. The corporation should also expand its distribution network in order to sell their products directly to consumers.