Steel coils stored outside VNSteel’s processing facility. It’s 8am and already sweltering at the Pomina Flat Steel JSC plant outside Ho Chi Minh City, as the night shift’s last pour of molten metal is shaped, cooled and cut into rods.
When India laid out the case for safeguard measures on steel imports, it mentioned the threat posed by rising volumes from Vietnam, which is now a net exporter to the country, as well as growing capacity in the vicinity.
Demand could reach as much as 25 million tonnes, up around 5 per cent on last year — even as, to the north, China’s far larger steel industry struggles with oversupply and the impact of a protracted property crisis.
The story "In China's backyard, steel buyer Vietnam tries to stem tide of cheap metal" has 1324 words across 42 sentences, which will take approximately 6 - 12 minutes for the average person to read.
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