Viet Nam Biggest Steel Consumer in Southeast Asia

Viet Nam is the biggest steel consumer in Southeast Asia as it used 10.3 million tons in 2007, a rise of 42% over 2006, while the country’s steel demand is forecast to climb by 20% this year.

The Viet Nam Steel Association reported the country was capable of producing 782,000 tons of steel ingots and 2.2 million tons of rolled steel last year, an annual increase of 10 percent and 14 percent respectively.

To meet increasing demand, said deputy general director of Viet Nam Steel Corporation (VSC) Nguyen Thanh Truy, the sector has to build more factories as well as upgrade existing ones such as the Thai Nguyen Iron and Steel Corp. and Ha Tinh Steel Plant to raise local steel production to 900,000 tons of steel ingots and 2.35 million tons of rolled steel per annum.

Right in this year, the sector will carry out large joint venture projects including the construction of a hot-rolled steel sheet factory capable of making two million tons per year in Ba Ria-Vung Tau.

According to officials, local producers can satisfy domestic demands for rolled steel in 2006-2010, and set to churn out 6.1 million tons in 2010 and 10 million tons in 2015.