The Việt Nam Sports Administration (VSA) plans to kick off the national tournaments after about four months rest because of the coronavirus pandemic, pending Government approval.
In the first quarter, VSA-member enterprises recorded a plunge of 15 per cent in steel output to 5.4 million tonnes and 20 per cent in consumption to 4.4 million tonnes year-on-year.
Vietnamese steelmakers were in need of State support to minimise the damage caused by the outbreak of the novel coronavirus (COVID-19), which could well reach a pandemic as dozens of countries reported new infections, said industry leaders and experts.
Consumption of steel products, especially colour-coated steel, declined in October while production continued to rise, according to the Vietnam Steel Association
Listed steel companies have reported disappointing business results in the first quarter despite strong growth in the domestic market, which they have attributed to the high cost of capital.
Việt Nam’s steel market was forecast to be in good shape in the first quarter of this year despite high prices, said the Việt Nam Steel Association (VSA).