On March 23, the Building Materials Department of Vietnam's Ministry of Industry and Trade said that from January to February, Vietnam sold about 9 million tons of cement, up 3.9% year-on-year. Previously, in order to solve the oversupply of cement, Vietnam has cancelled five cement plant projects with a daily output of less than 2,500 tons; it has decided to suspend the implementation of nine cement projects in 2015, and only one new cement production line has been put into operation.
According to the Vietnam Iron and Steel Association, from January to February, Vietnam sold 300,000 tons of steel, down 30.3% from the same period last year, and steel stocks increased by 39.9%. At present, the annual output of steel products in Vietnam is about 22 million tons, including 10.8 million tons of construction steel products, 2.11 million tons of welded steel pipes, 4 million tons of galvanized steel plates and 4.8 million tons of cold-rolled steel plates. However, it is still necessary to import hot-rolled steel plates, alloy steel and other steel products that cannot be produced in China. In 2015, Vietnam's demand for construction steel was about 5.97 million tons, with a year-on-year increase of 8%; galvanized steel sheet was 3.25 million tons, with an increase of 15%; and cold-rolled steel sheet was 3 million tons, with an increase of 15%. Steel demand is expected to grow by 11.8% in the whole year.