Cement manufacturers have raised prices by VND100,000-150,000 (US$4.40-6.60) /t, or by 5.5-8.3 per cent, in Vietnam, claiming production costs have risen.
Ha Tien 1 Cement JSC, a subsidiary of the Vietnam National Cement Corporation (VICEM), announced a hike of VND100,000/t to VND1,800,000/t for its Vicem Ha Tien brand of packed cement with effect from 23 March.
Hoang Long Cement JSC has increased its prices by VND120,000 and Thanh Thang Group Cement JSC has hiked the prices of its packed and unpacked cement, branded Thanh Thang and Thinh Thanh, by VND150,000.
According to the Vietnam National Cement Association, 13 manufacturers have increased prices. Cement prices have been driven up by higher raw material and transport costs as gasoline prices are now at a record high.
Vietcombank Securities expected cement production costs to keep rising since the price of imported coal has shot up by 90 per cent to US$154/t and that of domestic coal by 9-12 per cent to over US$50/t.
