Wednesday, June 02, 2004
HO CHI MIN CITY, Vietnam (June 2) – Vietnamese steel producers are heading for bad weather. Already five major steel companies have ceased production. This is on the one hand due to the dwindling home-demand (some 35-40% less in May ‘04 alone) and on the other the fact that in China the new economy-braking measures are taking some effect. Chinese steel producers already looking for exports possibilities. Vietnam now has 19 steel producers with a combined capacity of 4.5 million tonnes of steel per year.(MH)
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