VSA proposes 0% steel billet export tariff
10-OCT-2008 Intellasia | Lao Dong |
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Oct 10, 2008 - 7:00:00 AM |
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Vietnam Steel Association (VSA) and steel makers have proposed to the government to reduce export tariff on steel billet to 0% after the finance ministry on October 7 decided to cut export tariffs on cast iron and steel from 10% to 5%.
The price of steel billet in the world market has declined sharply to US$650 a tonne as many countries have stockpiled a high output of finished steel produced from scrapped steel with the price of about US$800 a tonne.
At the moment over 500,000 tonnes of steel billet and 400,000 tonnes of finished tonnes are still in store.
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