Posted on 04 Nov 2009
Vietnam Steel Association (VSA) has lately announced that the whole country’s steel sales in October reached only 230,000 tonnes, a sharp decrease in comparison with that from previous months.
Nguyen Tien Nghi, VSA’s vice head said while the country gained total steal sales volume of 401,000 tonnes in Aug, in the following month, the sales dropped to 287,000 tonnes and it was estimated that the sales volume in October would be about 230,000 tonnes only.
Meanwhile, the current price that the steel makers have offered was posted at 11 million dong per tonne, reducing by about 500,000 dong against that of September. The main reason was that many construction enterprises had bought large volume of steel for storage purposes previously in some large construction projects because they were worried about the increase in steel prices, therefore the stockpiled steel among the construction firms stayed at high level.
In addition, the domestic steel enterprises are still worried about the increasing imported steel volume from other Southeast Asian countries such as
The imported scrolled steel to be imported from the three above-mentioned countries was estimated at about 40,000 tonnes per month. The offered price of these imported products was about 500,000 dong -700,000 dong lower than those produced by domestic firms.
Nghi added that up to the end of Oct, there were about 220,000 tonnes of finished steel products of domestic enterprises left unsold.
