Vietnam Steel Association (VSA) indicated that the country is expected to import around 2.5 million tons of steel billets in 2006.
VSA said that steelmakers in Vietnam need around 4 million tons of billets for
production in 2006; however, local sources can supply around 1.5 million tons of billets.
According to preliminary plans worked out by relevant state agencies and enterprises, the local steel sector will invest $920 million in upgrading and building several steel and
billet plants between 2006 and 2010.
For the first two months of the year, Vietnam imported 237,000 tons of billets, down 18.7 percent from a year earlier.