Vietnam's thriving steel industry

钢铁工业在越南被认为是工业化的基石，并在基础设施发展中扮演着重要的角色。2008年是越南社会经济发展的关键时间，所以钢铁业应当关注于提升生产和控制国内市场价格。

Vietnam's economy has made good progress in recent years and has come to its stage of industrialization and modernization. The economy is predicted to grow by 8.5 percent this year. Growth will be underpinned by strong private consumption and private investment. Total investment as a share of GDP is projected to be about 40 percent in the next 2 years. The steel industry is considered as the base for industrialization and plays an important role in the development of infrastructure in Vietnam. Under the strategy on steel industry development from 2007-2015 with a vision towards 2025, which has been approved by the Prime Minister, Vietnam strives to export 0.5 million tons of different kinds of steel. According to the Ministry of Industry and Trade, the total volume of finished steel to be demanded by 2010 will be 11-12 million tons. The figures will be 15-16 million tons by 2015 and 24-25 million tons by 2025. Vietnam's consumption of finished steel product went up by 43 percent to 10 metric-tons in 2007 brought by the strong local demand, up from 7.16 metric-tons in 2006. Meanwhile, the production of finished steel is expected to provide 6.3-6.5 million tons by 2010, 11-12 million by 2015, and 19-22 million tons by 2025, including 11-13 million tons of flat steel and 0.2 million tons of special products. The general goal of the steel industry is to satisfy at the highest possible level the demand for steel products of the national economy and make steel for export. As for cast iron production, Vietnam aims to churn out 1.5-1.9 million tons by 2010, 5-5.8 million tons by 2015 and 10-12 million tons by 2025. As for ingot steel production, the local industry strives to put out 3.5-4.5 million tons by 2010, 6-8 million tons by 2015 and 12-15 million by 2025. Not only aiming to satisfy domestic demand, the strategy says that Vietnam will export steel products. However, the targeted exports prove to be modest: 0.5-0.7million tons of cast iron and steel of different kinds by 2010. The volume to be exported 15 years later, by 2025, will be 1.2-1.5 million tons. The region's steel billet production should go up by 30 percent this year, helping keep imports, mainly from China, steady at 2 million tons. Steel billets have risen to $750 per tons now, cost-and-freight, from $720 tons last month, due to higher price of coal and iron ore. Vietnam imported 7.7 million tons of steel and billets last year, up 35 percent from 2006, of which the billet volume rose 5.8 percent to 2.1 million tons. Besides China, Vietnam also imports steel billets from Russia and Ukraine. Demand for steel in Vietnam would rise 20 percent this year from 10.3 million tons last year, which was a surge of 42 percent from 2006, according to industry experts. Achievements In the transition from the centrally planned economy to the market mechanism, the Vietnam steel industry has made many achievements: ● Sumitomo Metal Industries Ltd has decided to launch a feasibility study regarding a joint venture in Vietnam with China Steel Corp. The joint venture will manufacture and sell steel sheets, and its facilities are expected to include a cold rolling mill, a continuous galvanizing line, and electromagnM??czy?ni