Construction steel sales projected to recover in year-end months
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Update time : 2020-09-14 16:10:46
Construction steel sales are predicted to recover in the remaining months of 2020 after a fall in the January-August period due to impacts from the COVID-19 pandemic, according to the Vietnam Steel Association (VSA).
VSA Vice Chairman Trinh Khoi Nguyen said that in the short term, the domestic market will see higher demand after the social distancing period ended, thus bettering sales of construction steel from September.
A VSA report showed that production of construction steel in the first eight months of 2020 reached more than 6.6 million tonnes, down 6.9 percent year on year. Meanwhile, stales of the product reached 6.66 million tonnes, a decrease of 5.8 percent over the same period last year, including 906,962 tonnes exported abroad, down 5.9 percent.
Currently, construction steel inventories stand at more than 604,000 tonnes, which is at a medium level.
The COVID-19 pandemic outbreak in Da Nang in late July and its spread to some other localities greatly affected the recovery of business and production activities as well as the whole economy.
