Iron and Steel Institute of Vietnam Dinh Huy Tam recently the Secretary-General said that as the billet shortage of resources, the price has risen to 640 U.S. dollars / ton (CFR), the Vietnamese had to seek new billet cooperation resources.

In the Chinese State Council raised the export tariff rate after the bloom, from China's exports to Vietnam are close to the billet resources of the "zero", Vietnam has turned to Ukraine, Turkey and other Southeast Asian countries to find resources billet. Billet price in Vietnam in November an average of more than 570 U.S. dollars / ton (CFR), while the average price last year in the network is only 389 U.S. dollars / ton (CFR).

    Dinh is expected this year, Vietnam's total demand for seamless steel pipe will increase over the previous year to about 30 percent, to nearly more than 10 million tons, the demand for long products is expected to increase from the beginning of this year's 10% to 10% to a 22 percent to 20 percent. Billet production in Vietnam this year is estimated at more than two million tons (installed capacity of 2.2 million tons), while demand is estimated at 4.2 million tons. Put into operation in the new electric furnace to 2010 all the billet market demand in Vietnam will no longer be imported, the annual output will reach 4500000-500 million tons. EAF is expected to Vietnam in 2008 will reach 2.2 million tons annual production capacity of full load operation, in addition, Vietnam is also considering building a blast furnace, the use of domestic iron ore production of hot metal, and the production of billet.

    Material in the flat areas, Vietnam is still not able to produce hot-rolled plate, hot-rolled project is still in the building, the cold plate production close to 400,000 tons, while demand this year will increase to 1.2 million tons. Vietnam's goal is in the next two to three years will be exported cold plate, seamless steel pipe this year, long and coated wood products exports from last year's increase of 218,000 tons to 320,000 tons.