Vietnamese angle steel market slow (27/01/2015) Google Bookmarks

       Angle steel market sees no improvement in Vietnam and local prices are unchanged for the time being. Insiders predict that the angle steel market in Vietnam will continue to run quietly for some time.

       A steel trader from Lao Cai discloses that the price of angle steel SS400 50mm*50mm*5mm imported from China is VND12,200,000/mt (USD572/t), unchanged compared with that of last week.

      The source discloses that angle steel prices stopped decreasing in Vietnam after Chinese government announced to cannel the tax rebate for certain boron-added steel products on January 1. However, the demand for angle steel remained quite weak in Vietnam without enough construction projects. Currently, he only holds a small stock of 2,000t against the target level of 3,000-4,000t to avoid risks. He foresees a slow angle steel market in Vietnam in the near future.

      A steel producer from Dong Nai reports that the price for angle steel SS400 50mm*50mm*5mm is VND11,720,000/mt (USD550/t) in local market, the same as that of last week.

        The source just started the trial production of angle steel this month, and will begin to deliver products to customers in February of 2015. He discloses that the demand for angle steel remains unreleased in Vietnam, so he only expects a small sales volume of less than 1,000t for angle steel next month. He believes that the demand for angle steel in Vietnam is unlikely to become stronger within a short period, and he is not confident of the market outlook.

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