According to a source from the Viet Nam Steel Association (VSA), in the first seven months of the year, VSA member companies sold 3.57 million tonnes of steel products, registering a year-on-year increase of 30 per cent.To meet the market's demand, VSA steel companies have had to operate at nearly full capacity. As a result, in July, 2015 the companies produced 613,000 tonnes of structural steel, up by nearly 51 per cent compared with the same period last year.While the market demand for building materials, including steel products, was increasing strongly, the price of products fell significantly, particularly after the Chinese Yuan was devalued.
According to statistics of the General Department of Customs show that by mid-August, Vietnam had imported nearly 9.22 million tonnes worth US$4.832 billion, of which 5 million tonnes, or 60 per cent came from China. The prices of imported steel products fell by 21.3 per cent, benefiting both builders and consumers, but placed pressure on domestic building materials manufacturers.
Source: Vietnam General Custom Office
