Vietnam imported nearly 4.1 million tons of steel billets and finished products worth over 2.4 billion U.S. dollars in the first seven months of this year, seeing year- on-year surges of 24.3 percent and 52.4 percent respectively, according to the country's General Statistics Office on Friday.
The country imported steel products mainly from China, Kazakhstan, South Korea, Malaysia, the Philippines and Singapore.
Vietnam imported 1.1 million tons of steel billets, material for steel production, valued at 521 million dollars between January and July, up 0.1 percent and 25.2 percent, respectively.
Vietnam is predicted by the country's Trade Ministry to import, this year, over 2 million tons of steel billets at prices of 400- 420 dollars per ton, produce 2.3 million tons of steel billets, and consume some 4 million tons of construction steel, the statistics office added.
Vietnam imported over 5.6 million tons of steel billets and finished steel products totaling 2.9 billion dollars in 2006, up 1. 8 percent in volume but down 0.9 percent in value over 2005, it said.
Steel makers in the country had a combined annual production capacity of some 6 million tons by late last year, according the Vietnam Steel Association.
Source: Xinhua
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