Vietnam posts rise in steel imports

Vietnam posts rise in steel imports

Vietnam imported more than 1.6 million tons of finished steel products during the first six months of the year, up 18 percent year on year, according to data released by Vietnam's Ministry of Trade. The ministry indicates that most of the imports came from China, Russia, Ukraine and Malaysia. On the domestic front, Vietnam's steel production totaled 1.7 million tons for the first six months, an increase of 19.5 percent year on year. Furthermore, the country's monthly construction steel consumption is expected to be 750'000 tons during the third quarter of 2005.