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Vietnam steel market in Q1 in good shape - VSA

Steel News - Published on Wed, 13 Mar 2019

Image Source: Thanh Nien News
Viet Nam News reported that Viet Nam’s steel market was forecast to be in good shape in the first quarter of this year despite high prices. Vi?t Nam Steel Association vice chairman Mr Nguy?n V?n S?a said the price of steel rose from USD 70 to USD 92 per tonne throughout January and February, but has now fallen to USD 86 to USD 87 per tonne. The sector imported 90-95 per cent of materials for manufacturing, including iron ore, iron scraps and coke fuel, he said, adding that globally high prices affected domestic costs.

Over 1.95 million tonnes of steel was sold in January-February, up 18.9 per cent year-on-year. Of which, more than 456 tonnes were for export, up 28.8 per cent from January 2018.

In preparation for the peak construction season in April-May, firms had been buying huge volumes of steel to stockpile. The government had also focused on public investment and promoting the construction market with economic prospects bright for this year.

Mr S?a said the sector was expected to grow by a record 10 per cent in 2019.

Source :

Posted By : Rabi Wangkhem on Wed, 13 Mar 2019
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