VietNamNet/TN, VNA
Steel sales in Vietnam are set to rise 20 percent to 4.6 million tons this year but the new plants starting up in the final quarter will boost the country’s 2009 output to 7 million tons, an industry association said.
The newcomers include Hoa Phat’s steel-rolling mill in Hai Duong Province and Thang Loi Vietnam Steel Company in Thai Binh Province, both in the north.
“We can easily anticipate a surplus of more than 2.4 million tons,” said Nguyen Tien Nghi, vice chairman of the Vietnam Steel Association.
Sales of construction steel, known as long products, rose 23 percent in the 12 months to the end of August to 2.7 million metric tons, according to figures supplied by the VSA’s 75 member companies, which account for 85 percent of Vietnam’s steel makers.
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