Domestic steel production exceeded 17 million tonnes in the first ten months of this year, growing 22.8 percent year on year, according to the Vietnam Steel Association (VSA).
Domestic steel production exceeded 17 million tonnes in the first ten months of this year (Photo: VNA)
Hanoi (VNA) – Domestic steel production exceeded 17 million tonnesin the first ten months of this year, growing 22.8 percent year on year,according to the Vietnam Steel Association (VSA). Steelconsumption reached nearly 14.2 million tonnes in the period, up 18.4 prercentyear on year.
The sector produced758,000 tonnes in October, down 9.35 percent from the previous month.
The VSA’s data showed that steel consumption in Octoberdropped 24 percent from the previous month and 14 percent year on year tonearly 600,000 tonnes. Steel inventories currentlyღ rose 35 percent from theprevious month to 783,000 tonnes.
VSA PresidentNguyen Van Sua attributed the decreasing trend to rainy weather and the sluggishconstruction market. Steel pricesalso dropped, by 400-700 VND per kilogramme. Additionally, pricesof steel billet for production fluctuated at 320-330 USD per tonne, down 5 USDfrom last month.-VNA
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Domestic steel production exceeded 17 million tonnes in the first ten months of this year (Photo: VNA) 
