Steel consumption achieves high growth

According to statistics compiled by the Vietnam Steel Association (VSA), in the first 6 months of 2015, construction steel products consumed reached over 3 million tons, an increase of 24.4% over the same period in 2014.

In the first 6 months of 2015, steel consumption achieved high growth (Photo: VT)

That growth rate has strong participation from a number of large steel manufacturing enterprises, such as: Vietnam Steel Corporation (VNSTEEL) is the highest consuming unit, with 696,059 tons, accounting for 22.78% of the market share. Next is Hoa Phat steel with consumption reaching 675,710 tons, accounting for 22.12% of the market share; Pomina steel with consumption reaching 407,426 tons, accounting for 13.34% of the market share; Vinakyoei reached 246,262 tons, accounting for 8.06% of the market share.

Not only construction steel products have grown impressively, but steel pipes have also grown steadily in recent years. If calculated in the first 6 months of 2015, this product consumed 664,583 tons, an increase of 34.7% compared to the same period in 2014, of which exports reached 80,370 tons. The steel pipe output with high growth must include Hoa Phat steel pipe, this enterprise accounts for 21.85% of the market share, equivalent to 145,300 tons. Next is Hoa Sen steel pipe consumed 130,528 tons, accounting for 19.63% of the market share. These two units have always been at the top of the list of steel pipe manufacturing and trading enterprises in recent years.

According to VSA, the growth of the steel industry has helped manufacturing enterprises reduce inventory pressure and increase production. However, maintaining high growth is extremely difficult, due to increasingly fierce competition between domestically produced goods and imported goods.

According to the Communist Party of Vietnam