Vietnam imported nearly 4.8 million tons of steel billets and finished products worth roughly three billion U.S. dollars in the first eight months of this year, posting respective year-on-year surges of 25.7 percent and 54.9 percent.
Between January and August, the country imported nearly 1.4 million tons of steel billets, material for steel production, valued at 645 million dollars, respectively up 0.6 percent and 26. 6 percent, according to the country's General Statistics Office on Wednesday.
Import prices of steel billets reached highest-ever level, at 580 dollars per ton in mid-September, up from 390 dollars per ton on average in 2006, according the Vietnam Steel Association.
Vietnam is predicted to import over 2 million tons of steel billets, produce 2.3 million tons of steel billets, and consume some 4 million tons of construction steel in 2007.
The country imported over 5.6 million tons of steel billets and finished steel products totaling 2.9 billion dollars mainly from China, Kazakhstan, South Korea, Malaysia, the Philippines and Singapore in 2006, up 1.8 percent in volume but down 0.9 percent in value over 2005.
Steel makers in the country had a combined annual production capacity of some 6 million tons by late last year, said the association.
Source: Xinhua
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