Credit squeeze dampens bar/rod demand in Vietnam
Sales of construction long products in Vietnam in June amounted to 298,000 tonnes, a fall of 23.5% from the previous month and also down 16.1% year-on-year, according to the Vietnam Steel Association(VSA)”Production of longs in June at 347,000 t was down by 20.8% m-o-m but up by 9.9% y-o-y” Tighter monetary and fiscal policies being undertaken by Hanoi to rein in inflation are the main reasons for the fall in June’s steel figures, VSA vice-chairman...