Thu. Jun 30th, 2022

Vietnamese steel exports increased year-on-year in September and the first nine months because the blocked limit of the epidemic caused weak domestic purchase activities, while ASEAN, US and European demand increased. According to the Data of the General Administration of Vietnam, the country exports 136 million tons of steel in September, an increase of 32% year-on-year, and the export exceeds the import of 67%. Vietnam and Hair Group said that the company has grown strongly in September. Nine months in this year, Vietnamese steel exports reached 9.86 million tons, an increase of 41% year-on-year, mainly driving force is an increase in the demand for steel materials in foreign markets, while domestic purchase activities are obstructed by blocking restrictions. China is the main export destination of Vietnamese steel exporters. In January-September, China exported 21.2 million tons, but fell by 16.2% over the same period last year. From January to September, Vietnam has increased to steel exports from ASEAN countries. Among them, steels exported to the Philippines, Indonesia and Malaysia increased by 64.5%, 20.4% and 19.6% respectively. In addition, Vietnam has also increased steel exports to the EU and the United States, mainly a plate. From January to September, Vietnam’s steel exports to the United States increased by about 5 times to 665,000 tons. In addition, Vietnam’s steel exports in some countries in Europe have also higher exports to ASEAN countries. Since the price is competitive, Vietnam has a year-on-year increase of 9 times (reaching 6.14,000 tons) and 17 times (reaching 4.29 million tons). However, according to Vietnamese customs data, the country has dropped to Thailand’s steel exports to 372,000 tons, down 30% year-on-year. In January-September, Vietnamese steel imports fell 6% to 9.69 million tons year-on-year; the monthly imported volume was 8.14 million tons, down 3.2% from the previous month. (Metal report)

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