Illustrative image (Source: VNA)
 
Hanoi (VNS/VNA) - Vietnam’s cement consumption continued to register strong growth in the first half of this year, especially cement exports, according to the Ministry of Construction.

The ministry’s Department of Building Material reported that in the first six months of this year, the domestic cement consumption was estimated at 51.42 million tonnes, a year-on-year increase of 25 percent, fulfilling 61 percent of the yearly plan. Of this, the Vietnam Cement Industry Corporation (VICEM), holding 34 percent of the local market share, consumed some 11.93 million tonnes.

Cement exports in the first six months gained a year-on-year surge of 50 percent to reach 15.42 million tonnes, reaching 85.6 percent of the annual export target.

Experts said the strong growth in domestic cement consumption against the same period last year was due to a favourable weather for construction and a higher cement export volume to China that had reduced domestic cement production.

The domestic cement industry’s inventory in the first six months stood at only some 3.10 million tonnes, including mainly clinker.

The department said in June, the total cement consumption was estimated at 8.71 million tonnes, 30 percent higher than the same period last year.

Of this, the domestic cement consumption was 6.91 million tonnes, a year-on-year increase of 29 percent. VICEM consumed some 2.18 million tonnes.

The cement export volume in June was estimated at 1.8 million tonnes, a surge of 35 percent over the same period last year.-VNS/VNA