Ongoing constructions and healthy real estate market should see growth continue.
As at the middle of May Vietnam had produced 40 million tonnes of cement and clinker this year, 24 million tonnes of which have been sold, according to the Building Materials Department at the Ministry of Construction.
Consumption has reached almost 32 per cent of the annual target and is 15 per cent higher year-on-year.
Cement and clinker consumption in April stood at 7.57 million tonnes, up 10 per cent against March. Construction remains dynamic as the dry season continues, with consumption rising in the second quarter compared to the first as a result.
Cement consumption in the first four months was 18.85 million tonnes, a 17.4 per cent increase year-on-year, and 6.07 million tonnes in April, up 17 per cent year-on-year and higher than targeted.
The Vietnam Cement Industry Corporation (Vicem)’s cement consumption was 2.4 million tonnes in April and 7.52 million tonnes in the first four months.
The Building Materials Department said consumption saw strong growth thanks to real estate improving and many constructions being built, with prices remaining stable.
Vietnam is expected to produce 75 to 77 million tonnes of cement this year.