Vietnam's steel industry is projected to grow 12-15 percent over the next five years, as discussed in Ho Chi Minh City at a seminar entitled “Steel Sector: Prospects 2017-2020”.
According to the Vietnam Steel Association (VSA), pig iron production is projected to increase by 80 percent in 2017 to reach 4.5 million tonnes, while steel billets will rise by 47.2 percent (11.5 million tonnes), finished steel products by 12 percent (20 million tons), cold-rolled coils by 13 percent and steel pipes by 15 percent.
In addition, domestic demand for steel will remain strong thanks to infrastructure projects and rapid urbanization in rural areas. In order to help the industry thrive, VSA vice chairman Nguyen Van Sua invited domestic manufacturers to improve their technology and production lines.
Last year, Vietnam's steel sector grew 18.1 percent to 17.5 million tonnes, up 16.8 percent from 2015. In 2016, the sector exported $ 2.4 billion worth of steel products and imports amounted to $ 9.1 billion.
Vietnam's steel industry will grow by 12-15 percent
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Azovpromstal® 14 June 2017 г. 13:22 |
