VNS reported that for the third consecutive year, the construction material sector has an abundance of stock, with around 2 million tonnes of cement and 500,000 tonnes of iron that cannot be sold. Mr Nguyen Tien Nghi VC of Viet Nam Iron Association said that “For iron, the acceptable amount to be in stock should [...]
The domestic steel and cement manufacturing sectors currently hold a huge amount of unsold inventory due to low consumption in domestic and export markets, high transporting costs, and legal disputes. According to the Vietnam Steel Association, the unsold steel inventory is around 500,000 tons, double the allowable rate; while the Vietnam Cement Association reported that [...]
Vietnam aims to export six million tonnes of cement products, including 500,000 tonnes of cement and 5.5 million tonnes of clinker, by 2012, primarily to the African market, according to the Vietnam National Cement Association (VNCA). Head of the VNCA’s office Nguyen Van Diep said that due to the government’s policy to tighten public investment [...]
Vietnam Cement Industry Corp (Vicem) has recently said that in November, the corporation turned out over 1.2 million tonnes of clinker and 1.36 million tones of cement powder, increasing 7 percent in clinker output but decreasing 14 percent in cement powder output from the same period last year. Vicem’s total consumption in month reached over [...]
Prime Minister Nguyen Tan Dung requested the Ministry of Foreign Affairs to stop calling for investments in steel, cement and garment industries. The request was delivered at the Ministry of Foreign Affairs’ 27th meeting on December 14, 2011. At the meeting, Prime Minister highlighted that it is tasks of ambassadors, commercial counselors to persuade other [...]
By the end of 2010, Vietnam Cement Association had predicted that in 2011, there would be about 9 million tonnes of cement to be added to the expected national cement production output. That’s when 10 new cement plants would be put into operation. Therefore, in 2011, the whole year cement production capacity of the cement [...]
Vietnam’s cement producers are battling stockpiles despite low prices. According to the latest data of the Ministry of Construction (MoC), Vietnam sold over 44 million tonnes of cement in 2011. The data shows that the domestic cement producers will struggle to bet last year’s 50 million tonnes of consumption. Many companies have sold at discounts, [...]
Vietnam is estimated to have consumed a total of 43.1 million tons of cement in Jan-November, fulfilling 79% of the whole-year target due to heavy rains and quite property market, the Ministry of Construction (MoC) said on its website on Dec 6. In November alone, the country’s cement consumption increased to 3.95 million tons, up [...]
Steel and cement producers have been enjoying too many preferences as they can buy electricity at low prices. Experts believe that it is now the right time to eliminate the unreasonable thing. According to Minister of Finance Vuong Dinh Hue, in 2010 alone, cement and steel producers enjoyed the subsidization of 2547 billion dong as [...]
There are at least three cement factories being on sales to repay debts and other cement producers are facing the tense finance situation. In the sector, the phrase “bankruptcy” has been concerned much whereas one year ago, enterprises had raced to invest in cement production, according to Saigon Economic Times. When building the 2011 business [...]
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