Vietnam's cement exports have become increasingly difficult, resulting in the concentration of units to the domestic market. Since the second quarter, there has been fierce price competition in Vietnam's domestic market and various cement brands have introduced support policies aimed at occupying the market.
From January 1, 2023, the cement volume export tax rate will be increased by 5% to 10% , aiming to restrict the export of products using non-renewable mineral resources, raw materials and fuels. This factor has helped to increase the pressure on the domestic market in Vietnam, resulting in units having to find ways to reduce prices and maximize customer support for sales performance. According to the
Vietnam Cement Association, a series of highway projects carried out in the 2022-2025 period are expected to help the cement market ease the pressure of production and operation while civil construction and real estate projects are still limited. The sharp decline in
cement exports to markets such as China, the Philippines, Bangladesh and Peru has led to an increase in cement stocks. However, the Vietnamese government's strong demand for public investment projects in 2022-2023 to speed up the allocation of investment funds has led to a significant increase in domestic cement demand in Vietnam, which is expected to compensate for the decline in export markets to some extent. Experts in the
industry commented on the market since the beginning of the year, saying that although Vietnam's domestic cement sales fell to the lowest level in the first two months of this year, especially in February, the national cement sales volume was only 3.5 million tons, but the reason was that February coincided with the Spring Festival, so the construction and production activities slowed down.
In March, after the Spring Festival holiday, a series of projects began construction, the implementation of the new year's production and operation plan, cement sales continued to rise, an increase of more than 200% over February.
In the second quarter, cement production declined gradually. The reason is that after a large number of purchases, the projects are moving towards stability. It is worth noting that after three adjustments to the cement price , the cement price has increased compared with the price announced at the beginning of the year. At the same time, during the post-COVID-19 epidemic period, due to economic constraints, the decline in household savings funds led to a decline in civil construction.
However, cement clinker exports peaked in January and February and declined significantly in the following months. As of June, the output of cement clinker was only 25000 tons, and the export volume was only 82% of the same period in 2021. The reason for the decline in
Vietnam's cement exports is that the main export markets of Vietnam's cement have declined since March. Cement exports and exports to markets such as Bangladesh, Malaysia, the Philippines, China and Taiwan Province have fallen sharply.
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