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Update news steel prices
The Ministry of Industry and Trade (MoIT) has denied rumours that it proposed the establishment of a State stabilisation fund to cope with the sudden increase in steel prices that has impacted many businesses.
The Vietnam Association of Construction Contractors (VACC) has asked the Government Office to investigate the price hike and find out if steelmakers were cooperating with each other to push up prices.
Local construction firms face the risk of bankruptcy as the price of steel has soared 40 percent recently.