Vietnam’s construction steel sales up 10.5% in Q1

Sales of construction steel in Vietnam rose 10.5% year-on-year to 1.29 million tonnes in the first quarter of 2015, according to the latest data from the Vietnam Steel Assn (VSA).

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

The Vietnamese government has implemented some major policies to support economic development, including “active support” for the real estate market, which in turn has boosted the building materials market, Trang Thi Thu Ha, VSA’s chief of office, told Steel First on Friday April 17.

Ha said the surge in demand for long steel products was due to the country’s economy continuing to accelerate in the first quarter of 2015, with gross domestic product (GDP) up 6.03% compared with the same period last year.

That is the biggest first-quarter GDP increase in five years, she added.

What to read next
Any bolstering effect on US ferrous scrap exports from the up-month in February’s domestic trade will be tempered in the immediate aftermath of two earthquakes in Turkey — the country’s largest importing region — on Monday, February 6
Steel trading and production have come to a halt in the eastern Turkish region of Iskenderun following a devastating earthquake that hit the region on Monday February 6 and put mills in the area under force majeure, sources told Fastmarkets on Tuesday
A 120-day closure of four Illinois dams scheduled for 2023 will disrupt barge shipments and have potentially both negative and positive impacts on scrap and finished steel products from Canada to Texas
Market participants are cautiously optimistic about a rebound in iron ore concentrate premiums, with steelmakers around the world set to ramp-up production in line with an anticipated increase in demand for steel products, Fastmarkets understands
General Motors (GM) is investing $650 million to develop the Thacker Pass mine in Nevada, the largest known source of lithium in the US and the third largest in the world
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.