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Tag Archives: Vietnam Steel

Steel makers face tough year

Steel makers face tough year

Steel manufacturers would face many difficulties this year after poor sales due to the global economic crisis and some would have to restructure, halt production or go bankrupt, according to the Vietnam Steel Association. The association predicts the demand for steel will remain low this year, rising only 4 per …

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Steel exports likely to hit 2m tonnes this year

Steel exports likely to hit 2m tonnes this year

Steel exports are likely to hit a record two million tonnes this year to earn the country a turnover of 1.8 billion USD, announced Vietnam Steel Association chairman Pham Chi Cuong. Cuong attributed the results to the growing efforts by steel companies to seek new export opportunities at a time …

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Steel industry remains positive in long term

Steel industry remains positive in long term

Current business difficulties will not greatly affect the steel industry’s development in the future, as demands will bounce back in the next few years, said an industry source. Pham Chi Cuong, chairman of the Vietnam Steel Association (VSA), insisted there are positive signs for the steel sector. He reasoned that …

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Steel plants face bankruptcy

Steel plants face bankruptcy

Many Vietnamese steel plants are on the verge of bankruptcy due to unsold inventories and big debts. According to Chairman of Vietnam Steel Association Pham Chi Cuong, due to Government Resolution 11 issued in late February, many ministries, agencies and localities have been required to halt non-urgent projects in order …

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Domestic steel prices drop substantially

Domestic steel prices drop substantially

The Vietnam Steel Association (VSA) disclosed that domestic steel prices have suddenly dropped by VND200, 000- 300,000 per ton compared to the beginning of the year. After two months, the price of steel has declined by VND300, 000 ($14) per ton. According to Nguyen Tien Nghi, Deputy Chairman of VSA, …

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