Vietnam's power crunch still impacts steel market

Although Vietnam's power crunch caused by high temperatures and severe droughts has eased a bit lately, its impact on the country's steel market remained, with downstream demand dampened and steel producers turning eyes to overseas buyers, local importers informed Mysteel.

Vietnam has been suffering from high temperatures and water shortages since early May, especially in its northern regions, which brought critical pinch in the country's power supply and disrupted manufacturers in various sectors, Mysteel Global noted. Under such circumstance, Vietnam saw its downstream steel demand for both domestic and foreign