Local cold-rolled steel makers have been boosting their sales in the domestic market to offset a decline in outbound sales caused by the recent anti-dumping accusations, the Saigon Times Daily reported.
Sales of welded steel pipes of local producers in the domestic market rose remarkably compared to a decline of 19 percent or 18,200 tonnes in their exports in the first six months this year, according to the Vietnam Steel Association (VSA).
For instance, sales in the local market of Nam Kim Steel (NKG) and Hoa Sen Group as of June 2014 had soared 127 percent (11,933 tonnes) and 117 percent (53,922 tonnes) year on year respectively.
In addition, consumption of steel products on the local market accounted for 84 percent of the total quantity sold by steel makers in the same period.
On the other hand, there were changes in market shares of local steel producers in the first six months of this year, according to VSA.
Vietnam Steel Corporation (VnSteel) and its joint-venture enterprises gained market share of 47 percent in 2013, but their combined market share tumbled to 41.7 percent in this year’s first half.
Meanwhile, other firms aside from VnSteel, which occupied the remaining 52.4 percent last year, saw their combined market share shooting up to 58.2 percent this year.
According to the Ministry of Industry and Trade, Vietnam’s total steel consumption recorded a slight increase in the first half of this year.
Statistics from the ministry show that in the reviewed period, the consumption of rolled steel reached 1.72 million tonnes, a year-on-year rise of 25.4 percent, while 1.74 million tonnes of steel sheets and bars were sold, up 7.4 percent.
Raw steel consumption saw a decrease of 2.9 percent to nearly 1.4 million tonnes.-VNA
Sales of welded steel pipes of local producers in the domestic market rose remarkably compared to a decline of 19 percent or 18,200 tonnes in their exports in the first six months this year, according to the Vietnam Steel Association (VSA).
For instance, sales in the local market of Nam Kim Steel (NKG) and Hoa Sen Group as of June 2014 had soared 127 percent (11,933 tonnes) and 117 percent (53,922 tonnes) year on year respectively.
In addition, consumption of steel products on the local market accounted for 84 percent of the total quantity sold by steel makers in the same period.
On the other hand, there were changes in market shares of local steel producers in the first six months of this year, according to VSA.
Vietnam Steel Corporation (VnSteel) and its joint-venture enterprises gained market share of 47 percent in 2013, but their combined market share tumbled to 41.7 percent in this year’s first half.
Meanwhile, other firms aside from VnSteel, which occupied the remaining 52.4 percent last year, saw their combined market share shooting up to 58.2 percent this year.
According to the Ministry of Industry and Trade, Vietnam’s total steel consumption recorded a slight increase in the first half of this year.
Statistics from the ministry show that in the reviewed period, the consumption of rolled steel reached 1.72 million tonnes, a year-on-year rise of 25.4 percent, while 1.74 million tonnes of steel sheets and bars were sold, up 7.4 percent.
Raw steel consumption saw a decrease of 2.9 percent to nearly 1.4 million tonnes.-VNA
