Steel inventory reaches 420,000 tones: VSA

The total volume of steel inventory reached 420,000 tones, marking a high level against the allowable average steel inventory of about 250,000 tones, Nguyen Tien Nghi, vice chairman of Vietnam Steel Association (VSA) said.
Statistics showed that in July, the country’s total steel production output reached nearly 310,000 tonnes and steel consumption reached 359,000 tonnes, up 20.5% from June but down over 30% from the same period last year.

According to VSA, steel consumption at less than 400,000 tones per month is a low level.

The burden on high loan interest rate together with big steel inventory will increase the financial costs and affect the productivity of many enterprises. – Vietbiz24

Tags: Vietnam steel industry, Vietnam steel inventory, Vietnam steel market

Posted by VBN on Aug 23 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