Posted on 20 Sep 2012
According to the Vietnam Steel Association (VSA), Vietnamese steel industry was weak in the first eight months of this year.
In August, the country’s sales volumes of steel products were only at 356,000 tons and the inventories reached 215,000 tons, forcing the steelmakers to cut prices by VND200,000~VND300,000/ton to gain orders.
Besides, the sharply surged steel products imported from China, Japan and South Korea have led several Vietnamese steelmakers to suspend production.
Thus, it’s predicted that around 20% of the Vietnamese steel enterprises would face bankruptcy from now until the end of this year.
