Topic: Steel production

Total investment in north-central plant estimated at $1.6 billion.

Market facing difficulties due to lower demand.

Production down 16.3% year-on-year in first two months.

Mill to have an annual capacity of 980,000 tons of hot rolled coil in the first phase.

Stagnant real estate market and tightened monetary policy will affect steel consumption this year.

Vietnam’s steel market is exhibiting few clear signs of recovery while its real estate market faces many difficulties that affect steel consumption.

Vietnam’s export turnover to the market is rising handsomely while appreciation of the agreement is growing.

The Vietnam Steel Association (VSA) has reported that steel production and consumption in October fell 16.3 per and 29.4 per cent, respectively, year-on-year. In the first ten months of 2022, steel production and consumption were down 8.7 per cent and 6 per cent, respectively, year-on-year. VSA forecasts that Vietnam’s steel market will continue to face many difficulties in the fourth quarter.

The Vietnam Steel Association (VSA) has reported that steel production declined 12.3 per cent year-on-year in June and steel consumption 0.5 per cent. Production was down 2.4 per cent year-on-year in the first half, while consumption increased 0.6 per cent.