A cement factory (Photo: VNA)Hanoi (VNA) - The domestic building material market was stable in the firstfour months of the year and continued to meet demand, said the Ministry ofConstruction.
Theministry said the building material planning and development programme has beenimplemented to ensure supply and stabilise prices, and also enable exports.
Thetotal consumption of cement and clinker in the January-April period reachednearly 26 million tonnes, a 5 percent year-on-year increase, meeting 32 percentof the set target. Of this, total local consumption of the two buildingmaterials rose 9 percent against the same period last year to reach 20.79million tonnes.
Cementand clinker exports totalled 5.15 million tonnes, a sharp drop from thecorresponding period last year due to a Government decision that exportedcement products are not eligible to enjoy input value-added tax (VAT)deduction. In addition, the product carries a 5-percent export tax.
Thetaxes have upped export costs by 4.5 USD per tonne of clinker and 7.5 USD pertonne of cement based on average free-on-board (FOB) prices of 30 USD and 50USD, respectively.
FromJanuary through April, the country’s output of building glass was 63 millionsq.m, 5 percent less from the same period last year. Ceramic tiles productivitywas estimated at 182 million sq.m, representing a 6 percent year-on-yearincrease.
Theproduction value of the building materials businesses in that period wasestimated at more than 10.4 trillion VND, meeting 28 percent of the annualtarget.
Modestconsumption
Domesticsteel consumption recorded a modest year-on-year rise of 2.7 percent in Aprilto some five million tonnes, according to the Vietnam Steel Association (VSA).
Lastmonth, the purchase of construction steel products dropped 14 percentyear-on-year to reach more than 635,000 tonnes. As of April 30, the inventoryvolume of construction steel stood at 720,000 tonnes, much higher than theprevious month.
Consumptionof steel pipes also saw a slight decrease of 5 percent to some 158,000 tonnes,the association said.
Accordingto VSA, 6.23 million tonnes of steel, worth 3.18 billion USD, were shipped to Vietnamuntil April 15, marking a yearly slump of 5 percent in volume but an increaseof 22 percent in value.
Theassociation attributed the drop in the quantity of imported steel to thepositive impact of Vietnam’s safeguard measures, which have resulted in localenterprises having to face less pressure from competition.
Earlier,the association predicted the local steel industry would likely enjoy 10-12 percentgrowth this year.
Withexpected GDP growth of 6.2 percent this year and the operation of 10 steelprojects in 2017, the sector’s growth is expected to expand further, itsaid.-VNA
Thetaxes have upped export costs by 4.5 USD per tonne of clinker and 7.5 USD pertonne of cement based on average free-on-board (FOB) prices of 30 USD and 50USD, respectively.
FromJanuary through April, the country’s output of building glass was 63 millionsq.m, 5 percent less from the same period last year. Ceramic tiles productivitywas estimated at 182 million sq.m, representing a 6 percent year-on-yearincrease.
Theproduction value of the building materials businesses in that period wasestimated at more than 10.4 trillion VND, meeting 28 percent of the annualtarget.
Modestconsumption
Domesticsteel consumption recorded a modest year-on-year rise of 2.7 percent in Aprilto some five million tonnes, according to the Vietnam Steel Association (VSA).
Lastmonth, the purchase of construction steel products dropped 14 percentyear-on-year to reach more than 635,000 tonnes. As of April 30, the inventoryvolume of construction steel stood at 720,000 tonnes, much higher than theprevious month.
Consumptionof steel pipes also saw a slight decrease of 5 percent to some 158,000 tonnes,the association said.
Accordingto VSA, 6.23 million tonnes of steel, worth 3.18 billion USD, were shipped to Vietnamuntil April 15, marking a yearly slump of 5 percent in volume but an increaseof 22 percent in value.
Theassociation attributed the drop in the quantity of imported steel to thepositive impact of Vietnam’s safeguard measures, which have resulted in localenterprises having to face less pressure from competition.
Earlier,the association predicted the local steel industry would likely enjoy 10-12 percentgrowth this year.
Withexpected GDP growth of 6.2 percent this year and the operation of 10 steelprojects in 2017, the sector’s growth is expected to expand further, itsaid.-VNA
VNA
