Vietnam records 0.5mln tons of steel inventory

Vietnam Steel Association (VSA) said enterprises in the industry had nearly 0.5 million tons of steel in inventory as at the end of Q2/2011 due to slow sales in the quarter.

Sales in the second quarter fell as demand plunged on public investment cut. Most of steel mills run at 50-60% capacity meanwhile many new steel factories were invested without warnings by regulators.

VSA estimated interest rates paid for the steel inventory at VND150 billion/month.

VSA said 30% of steel factories used back-ward technology, over 40% used inter-mediate technology and over 20% used high-tech. – Stoxplus.com

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

Posted by VBN on Aug 2 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