A recent monthly report from Việt Nam Steel Association (VSA) showed that construction steel production decreased by 9.1 per cent month-on-month to 738,196 tonnes. VSA said that weak steel demand in most regions of the world and negative sentiment had both weighed on the selling prices of finished steel. Also pressuring steel prices, Chinese producers were boosting exports by lowering prices at a rapid rate to compete, the association added. Since the beginning of the year, construction steel prices have been revised down 12 to 13 consecutive times. The General Department of Customs reported 1.13 million tonnes of iron and steel were shipped in May.
