Steel market growth rebounds

SGGP
The steel market showed signs of recovery in May with production and consumption higher than the previous month and the same period last year, reported Vietnam Steel Association (VSA).

The steel market recovered in May (Photo: SGGP)

The steel market recovered in May (Photo: SGGP)

Domestic production reached 7.8 million tons, up 12 percent over the same period 2016. Steel products sales hit 6.4 million tons, up 7.2 percent.
Of these, structural steel sales hit 758,000 tons, an increase of 19.4 percent against the previous month and 27.9 percent over the same period last year. Inventory went down 14 percent versus the previous month to 621,000 tons.
A VSA representative said that during the first five months this year, steel sales growth reached only 7.2 percent, lower than forecast in early this year. Steel products import neared 5.6 million tons with the total turnover of $3.16 billion, up 1 percent in volume and 52 percent in value.

By T.MAI – Translated by Hai Mien

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