According to analysts, 2016 was successful for the metallurgists of Vietnam. During the year local businesses have managed to produce seventeen and a half million tons. It is sixteen and a half percent higher than a year earlier. Most of the products was realized on domestic market. Vietnamese consumers purchased fifteen and a half tons of rolled steel. This figure exceeded last year’s figure by twenty four percent.
Vietnamese consumption of products in steel sector is growing with record speed. The main reason for the jump in consumption — a construction boom in Vietnam. According to local analytical agencies, Vietnamese steelmakers increased output of rolled products by 18.3%. The total number of produced products for the year amounted to eight and a half million tons. The overall rate of steel also increased significantly. And the amount of steel produced in Vietnam, amounted to 8.7 million tons.
However, despite the success of the metallurgical industry analysts did not Express much optimism. Experts believe that the steel industry of Vietnam continues to maintain a precarious situation. Local metallurgical enterprises continue to experience considerable underutilization of capacity. Over the past twelve months abroad, has purchased 1.1 million tons of billets. Although in the beginning of last year this type of products were imposed anti-dumping duties.
Import from abroad galvanized steel for painting amounted to more than 1.8 million tons. At the same time, Vietnam exported two million tons of galvanized steel.
Imports of steel products, last year, reached nine billion tons. The total number of exported goods was two and a half billion tons. The main share of imports accounted for hot-rolled steel. The reason for this is obvious — the country has not yet established the release of this product. Steel mill, Formosa Ha Tihn (built last year) had to start production of hot rolled. However, the company was not neglected, in connection with the problems of environmental pollution.
Experts make a forecast of declining growth in industry this year. But still remain at a high enough level. In 2017 is expected to be released twenty million tons of rolled steel.