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News Vietnam National Cement Association forecasts 13% profit drop for producers due to high energy prices in 2023

Vietnam National Cement Association forecasts 13% profit drop for producers due to high energy prices in 2023

Written by Global Cement staff 17 May 2023
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Vietnam: The Vietnam National Cement Association (VNCA) expects members to record a 13% drop in their gross profit in 2023 due to a 3% rise in electricity prices. At the same time, it expects cement demand to fall due to the slowing of residential construction activity. During the first quarter of 2023, Vietnamese cement exports to China fell by 90% in value terms.

Việt Nam News has reported that electricity costs constitute 15% of operating expenses for the Vietnamese cement sector.

Published in Global Cement News
Tagged under
  • Vietnam
  • Vietnam National Cement Asociation
  • Forecast
  • GCW608
  • Export
  • China
  • Electricity

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