Vietnam sold 7.62Mt of cement in February, representing a 38 per cent YoY hike and 22.9 per cent of the full-year target, according to the Vietnam Building Material Association, Ministry of Construction.

The domestic market accounted for 5.02Mt, showing an 11 per cent expansion when compared with the year-ago period. This includes 1.96Mt sold by the Vietnam Cement Industry Corp (Vicem). Around 2.6Mt were exported in February, a 30 per cent YoY rise.

In the first two months of 2018, dispatches reached 18.55Mt, an 85 per cent YoY surge. Around 5.5Mt were exported, representing an advance of 121 per cent when compared with 2M17.

Total cement production capacity currently stands at 97.64Mta and the Vietnam Cement Association (VNCA) has warned that the country will face a 25-36Mta glut by 2020.