Ruanjin Yi, vice president of the
Vietnam Steel Association (VSA), has stated that finished steel output in
Vietnam may decrease by eight percent year on year in 2011, as reported by local Vietnamese media sources. The VSA official added that in 2011 construction steel output may fall by 5-6 percent in
Vietnam, while domestic hot rolled and cold rolled steel
production may decline by 2-3 percent, both on year-on-year basis.
In addition, total finished steel sales in
Vietnam in November amounted to just 340,000 mt, which is significantly lower than the average monthly level of the current year. Meanwhile, finished steel inventory in
Vietnam is higher than normal at 350,000-370,000 mt, while semi-finished steel inventory in the country stands at 520,000 mt.