VSA: Steel Sales Up 47 per cent in February
Steel sales were reported at more than 257,000 tons in February, up 47 per cent on-month, according to the Vietnam Steel Association (VSA).
However, the total figure was 433,475 tons in the first two months, down 29 per cent on-year.
Enterprises under the VSA produced 237,000 tons in February, up 2.43 per cent on-month, the association said.
The VSA reports nearly 200,000 tons of finished steel and 450,000 tons of steel ingots in stock now, enough for making construction steel in March and April.
At present, domestic steelmakers are facing fierce competition from ASEAN exporters who benefit from Vietnam’s zero tariff policy, and facing difficulties from cheap China-sourced steel.
Steel prices on the domestic market are falling while sales are at slow pace, the association said. (Vietnam & World Economy)
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