Domestic Steel Sales Fall Sharply in June
Just 250,000 tons of steel were sold in the domestic market in June, down 60,000 tons from the previous month, the strongest fall in a single month so far, according to the Vietnam Steel Association.
The association attributed the reducing demand to the halt of construction projects in southern Vietnam in the rainy season as well as the government&rsquos tightened control over investment projects and bank loans.
In addition, the rampant import of cheaper steel from China since the ning of the year has been another reason behind the lower demand for locally-produced steel.
At southern factories, steel currently stands at VND16.6 million-VND16.7 million/ton, excluding discounts and value added tax, while prices of the product at northern plants are listed VND1 million-VND1.1 million lower. (People&rsquos Police, Vietnam Economic Times, VNA)
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