Vietnam Steel Output, Consumption Forecast to Rise 10%-12% in 2010
The Vietnam Steel Association forecast the country’s steel production output and consumption in 2010 will increase between 10% and 12% from a year earlier.
Vietnam’s steel ingot output and sales will soar 20% on-year, according to Chairman of the Vietnam Steel Association (VSA) Pham Chi Cuong.
The chairman also forecast steel prices in Vietnam will not fluctuate strongly during the year.
In late September, Cuong estimated Vietnam’s total steel production capacity will reach eight million tons by the end of this year and the domestic steel consumption will stand around 5 million tons, resulting in a huge steel surplus of 3 million tons. (Labor)
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