Mr Ruanjin Yi VP of Vietnam Steel Association has stated that finished steel output in Vietnam may decrease by 8% YoY in 2011, as reported by local Vietnamese media sources.

The VSA official added that in 2011, construction steel output may fall by 5% to 6% in Vietnam, while domestic hot rolled and cold rolled steel production may decline by 2% YoY to 3% YoY.

In addition, total finished steel sales in Vietnam in November 2011 amounted to just 340,000 tonnes, which is significantly lower than the average monthly level of the current year.

Meanwhile, finished steel inventory in Vietnam is higher than normal at 350,000 tonnes to 370,000 tonnes, while semi finished steel inventory in the country stands at 520,000 tonnes.

(Sourced from Steel Orbis)
Visit www.steelorbis.com for more