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Steel and cement demand to increase in Vietnam

Vietnam News Service reported that the demand for cement, steel and other construction materials will surge sharply in the fourth quarter, but prices will remain unchanged or even drop.

Mr Pham Chi Cuong chairman of Viet Nam Steel Association was also predicting a sharp rise in demand for steel in the late months of the year but said prices were not likely to increase.

He said that the cost of pig iron on the world market had fallen from USD 530 to USD 480 to USD 500 per tonne as many pig iron producers around the world, including China, Thailand and Malaysia, were facing a surplus.

Nevertheless, the Viet Nam Steel Corporation last week announced a price decrease of VND 200,000 per tonne to VND 11.32 million for steel coil, and other producers were expected to follow suit.

In the ceramic fixtures and tile industry, the Viet Nam Building Ceramic Association estimated that the industry’s estimated output of 6 million units would outstrip demand of just 5 million units. The industry was expected to produce 261 million square meters of tile this year, while export demand was expected to fall by about 30 per cent to just 150 million square meters.

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