Vietnam's steel consumption expected to rebound
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Update time : 2020-10-08 19:58:16
According to Rong Viet Securities (VDSC), the implementation of many large-scale projects and public investment in infrastructure was expected to support the growth of construction steel in Vietnam.
Since the beginning of May, the demand for steel pipes and galvanized steel products of Vietnam had been rebounding. The steel pipe sector had recovered due to domestic steel demand from housing, industrial real estate, and manufacturing, and the dependence on the galvanized steel export market has also decreased.
The Vietnam Steel Association (VSA) predicted that the production and sales of domestic construction steel will improve starting in September.
Meanwhile, Hoa Phat Group, a Vietnam steel manufacturer, stated that the new production line at its Dung Quat plant will catch up with the rebound in steel demand.
