Vietnam's August steel production reached 2.35 million mt, posting an increase of 11.4% from July and 12.6% higher year on year, data from the Vietnam Steel Association showed Sept. 14.
Similarly, the country's August steel market saw better sales figures at 2.07 million mt, up 5.9% from July, and 13.9% higher year on year.
The August steel exports category was similarly doing better, reaching 462,138 mt, up 8.81% from July, and 29.9% higher year on year.
Overall for August, all three segments saw their strongest performance within the year thus far.
Though in spite of the bullish monthly performance, total figures for January to August was still looking weaker on the year, as output was lower by 5% to 16.0 million mt, sales were lower by 6.9% to 14.44 million mt, and exports were down by 13.8% to 2.74 million mt.
In the upstream crude steel segment, forward views from local steelmakers were seemingly on a cautious note, as market volatility persist on a possibility that China might slow down on its consumption of imported semi-finished steel.
-- Clement Choo, Samuel Chin
Source : Steel Business Briefing