Vietnam cement sales forecast to rise 10% in Nov

Vietnam cement sales forecast to rise 10% in Nov
Published: 04 November 2010

The Price Management Department under the Ministry of Finance forecast cement sales in Vietnam will increase 10% on-month in November.

The higher demand will result in slight price rises of the building material, the Communist Party of Vietnam said on its website late Wednesday, citing the department.

Vietnam Cement Industry Corporation (Vicem) estimates it produced 1.4Mt of cement and sold 1.35Mt in October.

The firm, which now holds nearly a 40% domestic market share, raised cement prices by VND50,000 per ton in late October.

Vietnam is forecast to produce between 50Mt and 51.5Mt of cement this year. Its cement price is forecast to decrease in remain months.

The Ministry of Construction predicted Vietnam will face a cement surplus of at least 2Mt this year due to the boom of new cement plants nationwide while its cement export plans are facing difficulties.