Posted on 20 Sep 2012
Vietnam’s outputs and sales volumes of construction steel products were at 2.99 million tons and 2.95 million tons in the first eight months of this year, falling by 10.2% and 9.8% year on year respectively, affected by sluggish demand from the local construction industry.
In August alone, the country’s production of construction steel products totaled 359,000 tons, rising by 11.9% from a month earlier while decreasing by 18.1% year on year. The sales volumes were at 356,000 tons, up by 1.4% month on month while falling substantially by 26.3% year on year.
It’s learned that the Vietnam’s demand for construction steel products have remained weak due to the government’s tight monetary policy.
The Vietnam Steel Association (VSA) said that the country’s real estate market was frozen currently, but it expected that the construction activity would recover after the rainy season.
If the Vietnamese government pours more investments in infrastructure projects in the fourth quarter, it may help to boost the demand for construction steel products, VSA said.
