Cement consumption will be met as there are over 1.1 million tonnes of cement in stock in addition to the increasing production capacity of cement factories across the country.
In the fourth quarter, two more cement factories will be put into operation. The Vinakansai Cement Factory in northern Ninh Binh province has a design capacity of 1 million tonne per year, while the Lam Thach Cement Factory in northern Quang Ninh province is projected to produce 400,000 tonnes of cement.
Steel prices will also remain stable till the end of the year. According to chairman of the Vietnam Steel Association (VSA) Pham Chi Cuong, the production capacity of steel factories is still much greater than consumption demand (nearly double). Therefore, steel factories are offering competitive prices to boost sales in order to fulfil their annual plans.
Since early this year, around 1.5 million tonnes of steel has been sold, while the projected target is 3.2 million tonnes. As the volume of steel remaining in stock is rather high (around 170,000 tonnes), steel prices will be almost unchanged till the end of the year.
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