Mr. Nguyen Tien Thoa, head of the Price Control Department of the Vietnamese Ministry of Finance, has announced that the three week-long inspections of domestic mills regarding the issue of alleged unjustified hikes in domestic prices are almost completed, with the results expected to be announced in a couple of days.
As SteelOrbis reported previously, in the middle of August the Vietnamese government started inspections of domestic steel mills to evaluate their production costs following allegations of unjustified price hikes.
Meanwhile, Vietnamese sources report that domestic steel prices have dropped slightly due to the switch by suppliers from Chinese ingots to those of Malaysian and Thai origin.