Vietnam’s steel production surge in May hinh anh 1A production line for long steel products at Thai Nguyen Iron and Steel JSC in the northern province of Thai Nguyen. (Photo: VNA)

Hanoi (VNA) - Several steel products saw a surge in productivity in May. The bar and angle steel products showed the highest increase of 22.5 percent, following by rolled steel with 21 percent.

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 percent year-on-year rise.

The association forecast that domestic steel prices would be increased 10 percent to 11.4 million VND (506 USD) per tonne in the upcoming times.-VNA