Construction steel sales fall 11.4pct in May: VSA

Construction steel manufacturing of member companies in the Vietnam Steel Association (VSA) in May reached 437,689 tons, up 0.67% against April but higher 23.22% over the same period last year, the online newspaper CafeF reported on June 10, citing VSA.
Construction steel sales of VSA’s members reached 389,712 tons in May, down 11.37% from April but still up 37.39% year-on-year, raising the total steel sales to 2.1 million tons in Jan-May, up 16.24% on-year

The steel sales fell in May after the government’s Revolution 11 on taming inflation and stabilizing macroeconomics by control prices, cutting down public investment projects and tightening monetary policy which is directly affecting the realty market.

Also according to VSA, the steel inventory till May 31, 2011 was 402,044 tons, enough supply for the domestic steel market in June. – Vietbiz24

Tags: Vietnam steel industry, Vietnam steel market, Vietnam steel prices

Posted by VBN on Jun 13 2011. Filed under Steel. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry