The Vietnam Cement Industry Corporation (Vicem) now has some 2Mt of cement and clinker stockpiled. However, unlike price movements in the steel market, cement prices have gained five per cent compared with the previous quarter.
Mr Le Van Chung, President of the Board of Directors of the Vietnam Cement Industry Corporation, forecast cement sales will reach 50Mt in 2011, a decrease of 4Mt from the previous year. Input costs have risen at a double-digit rate. Coal, electricity and packaging prices rose 41, 15 and 25 per cent, respectively while borrowing costs were very high but inventories were on the rise and sales were slow.