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Steel Production of Vietnam Increases in 2018, Stimulates Domestic Ferroalloy Industry

 

The economy of Vietnam is experiencing a stage of stable development. A lot of real estate projects and transportation infrastructure are in construction, leading to a great growth in the ferroalloy industry of Vietnam.

According to statistics, in the first half of 2018, output of crude steel, rolled steel and angel steel had a growth of 43.7%, 5.3% and 16% in respective.

In the second half of the year, the steel industry in Vietnam is expected to keep growing by 20%. It is worth noting that Formosa Ha Tin Steel Corporation and Hoa Phat Steel Corporation will both expand production in the second half of the year.

The encouraging news from the steel industry will stimulate the domestic demand for the ferroalloy industry of Vietnam.