The Increases of Steel Consumption in Vietnam

According to the data from the Vietnam Steel Association, the steel consumption in the country reached 2.74 million tons in October, 2024. Due to the growth in the construction of steel and industrial steel, the amount of consumption is 9.4% higher than the previous month. It is a great sign to show that, despite steel prices rising five times in the month, the domestic demand for steel products is recovering slightly. At the same time, thanks to low inventory levels and increased investment in infrastructure projects, steel prices ae at the bottom. After the anti-dumping measures on color-coated steel from South Korea and China, lots of steel factories reduced competitive pressure which boosted the domestic sales of steel products as well.

 

Following the government's reconstruction and recovery policies and construction projects, the demand for construction steel and industrial steel will rise further in the rest of the months. It's obvious to see the increased investment in public transportation infrastructure, at the same time, Vietnam's steel output is expected to rise by 8% in 2025.

 

Xinhui Carbon has a reliable supplying chain with Vietnam's steel factories for its graphite products. You can contact us at wendy@lzxhcarbon.com for more details about our graphite products, which have been widely applied to furnaces in production lines. With Xinhui Carbon, the country will have a great opportunity to develop its steel industries.