DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/6vc97p/vietnam_steel) has announced the addition of the "Vietnam Steel Industry 1H12" report to their offering.
2011 saw unpredictable happenings of the European sovereign debt crisis depressing the global economy. In Vietnam, unstable macroeconomic conditions and negative impacts of the global economy caused domestic companies to fall into bad situations and brought many of them onto the verge of bankruptcy. Vietnam's steel industry was affected by the negative effects of the following factors: increase in the cost of raw materials and the exchange rate caused the production cost to go up; tight monetary policy and reduction of public investment caused the demand to drop and selling prices to remain stagnant; and high interest rate and declining stock market led to higher interest expenses.
Vietnam is the third-largest steel consuming country in ASEAN with a demand of 9.70mn tonnes in 2011, down 8.3% y/y. Vietnam Steel Association (VSA) estimates the growth of domestic consumption for steel products to slowdown in 2012 amid restrictive government policies and lower demand from the construction and real estate sectors. This has also contributed to falling steel prices and higher inventories.
Steel businesses had lower profit margins in 2011 as higher interest rates increased financial expenses. Besides, volatile prices and short-term excess of supply exerted pressure on profit growth.
Vietnam: Steel covers the global overview, ASEAN overview and country overview of the steel industry in terms of market situation, consumption and production, as well as steel scrap market. It also covers the market trends and outlook, imports and exports, tax regime, foreign investment, Steel Industry Development Plan 2007-2015, prices and market outlook, plus the profile, comparative matrix and SWOT analysis of the industry leading players:
- Pomina Steel Corporation
- Hoa Sen Group
- Vietnam Steel Corporation
- Thai Nguyen Iron and Steel Corporation
- Dai Thien Loc Corporation
For more information visit http://www.researchandmarkets.com/research/6vc97p/vietnam_steel
Source: Research and Markets