StoxPlus | Wed, Jun 25, 2014 03:05:00 PM
Consumption of cement jumped by 10% on year while consumption of construction steel also increased by 8% on year in the first half of this year, xaydung.gov.vn-the Ministry of Construction (MoC)’s portal reported.
According to data from the Vietnam Cement Association (VNCA), Vietnam consumed total of 33 million tons of cement in the first 6 months of this year, making a year on year of 10%. This is considered as a positive signal after 3 straight years of decline in cement consumptions.
In 2014, the country is expected to consume 49-50 million tons, rising 9% on year, including 16-20 million tons for exports. In 2013, Vietnam exported 15 million tons of cement, VNCA provided, forecasting that prices of cement will not fluctuate in the coming months.
Domestic cement manufacture’s outputs are estimated at more than 70 million tons, fully meet 2014’s demand.
Vietnam’s consumption of construction steel was estimated at 2.5 million tons in the Jan-June this year, increasing 8% from the same period of 2013, Vietnam Steel Association (VSA) provided, adding that the consumption was estimated at 5 million tons, for all types of steel such as roll steel, galvanized steel, pipe steel, up 12% on year.
Steel prices are seen to be stable this year and the consumption is expected to hit 12 million tons for both domestic consumption and exports, rising from 5%-7% versus 2013. However, domestic steel producers are now operating only about 40%-60% of their capacity as the supply surpasses demand.