The domestic steel industry saw strong growth in consumption in the home market in the first half of this year, according to the Viet Nam Steel Association (VSA).

The association reported the purchase of building steel products gained a year-on-year surge of 24.4% to reach three million tones in the first half of this year.

Viet Nam Steel Corporation (VNSteel) had the largest consumption volume at 696,059 tonnes, accounting for 22.78% of the total domestic consumption in the first 6 months.

The second largest producer was Hoa Phat Steel Company with a volume of 675,710 tonnes, Pomina with 407,426 tonnes and Vinakyoei with 246,262 tonnes.

Meanwhile, the consumption of steel pipes also saw a growth of 34.7% in the first 6 months to 664,583 tonnes against the same period last year, the association said.

The Hoa Phat Steel Company had the largest consumption of steel pipes at 145,300 tonnes, holding 21.85% of the total steel tube consumption, followed by Hoa Sen (130,528 tonnes).

(Source: VNA)