Vietnam steel sales to reach 480,000 tons in Nov

Domestic steel consumption is estimated to reach 480,000 tons in November, compared with 440,000 tons in October, the online newspaper Saigongiaiphong reported on November 18, citing the Vietnam Steel Association (VSA).

The figure is 20% higher than VSA’earlier estimate of 400,000 tons of steel and more importantly, it shows the reverse trend of steel sales.

Nguyen Tien Nghi, Vice president of (VSA) said the domestic steel consumption is likely to rise to 5.4 million tons this year, up 17% from 2009.

The domestic wholesale prices of steel currently stand at between VND13.5-VND13.9 billion per ton. However, the prices are estimated to increase to VND14.5 billion per ton in the coming time due to higher steel billet prices of VND12 million per ton, Nghi said. – Stoxplus.com

Tags: Vietnam steel industry

Posted by VBN on Nov 19 2010. 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