4:57:37 PM | 28/10/2008
Vietnam will need between 11 million -12 million tons of steel of all kinds next year including 5.5 million-6 million tons of construction steel and the remainder of shaped steel, manufactured steel and flat steel.
The country will also need some 5.5 million tons of steel ingots in 2009, of which, domestic producers can supply 3 million tons, or meet 54 per cent of the demand and the rest of about 2.7 million tons will be imported.
Domestic steelmakers are expected to produce 5 million tons of construction steel to fulfill the domestic demand and some 500,000 tons of flat steel.
This year, Vietnam will need more than four million tons of ingots while domestic ingot output just meets 50 per cent of the demand.
The country’s steel demand is forecast to rise 20 per cent this year from 10.3 million tons last year, the largest consumption in the Southeast Asia region, as a result of its rapid economic growth and massive infrastructure development. (Industry & Trade)
Vietnamese
