The sale of construction steel reached 958,500 tons in September, an increase of 9 per cent over the previous month and 4 per cent year-on-year, the Vietnam Steel Association (VSA) has reported.

This is the first time construction steel sales have shown positive growth this year and now stand at their highest level for nine months.

According to retailers, stable steel prices are one factor behind the increases. After 18 consecutive declines since April, steel prices have remained unchanged for over a month since the beginning of September.

VSA said the increased sale of construction steel is partly because some traffic projects such as the Eastern North-South Expressway and new airport projects are being implemented and accelerated.

However, according to VSA, market demand for steel products in general remains weak. Figures from the Association and member and non-member steel producers indicate that the total volume of construction steel produced in September was 876,043 tons, down 6 per cent and 20 per cent, respectively, compared to August and September 2022.