Vietnam gradually reduce the import of steel

The year on the production of steel in 2010, Mr Nguyen Tien Nghi, deputy chairman of VSA, said separately in 2010, production of embryos produced in the country reached 3.2 million tons.

Ingot production capacity to increase speed to meet the cast steel producer in the country to nearly 70%, this is a pretty impressive compared to embryos capable of meeting about 50% in 2009.

"This factor helps increase gradually stable supply of steel products, more or less the same time will contribute to stabilizing the steel prices in the market in the near future," Mr Yi said.

Now there are about 15 steel-producing enterprises, including a number of units produced embryos capacity as Thai Nguyen Steel, Hoa Phat Steel, Dinh Vu Steel.

In the coming time, when other businesses such as the United Iron and Steel Industry Fromosa Hung (Ha Tinh) or the steel plant in Dung Quat Economic Zone (Quang Ngai) is the investment and operation, Vietnam will be able to initiative is fully supply steel, and import no longer worry about the volatility of steel prices in the world, Mr. Yi said.

However, he thought, to steel products, especially steel construction to consumer price stability is also dependent on other factors, transportation costs, the price of electricity, water, oil price ... How will fluctuate in the future.

We manufacture steel price (less VAT) are fluctuating around 14 million per ton. VSA forecast, the total consumption of steel construction in both countries in 2010 reached about 6.1 million tons, up 15% over 2009.

Forecast in 2011, targets will be achieved given steel consumption of about 6.7 million tons of construction steel, up about 10% this year.