News Room - Steel Industry

Posted on 03 May 2018

Vietnam's steel import declines 6.4 pct in January-April

Vietnam imported more than 4.2 million tons of steel and iron totaling roughly 3 billion U.S. dollars between January and April, down 24.6 percent in volume and down 6.4 percent in value against the same period last year, according to the General Department of Vietnam Customs on Wednesday.

In the four-month period, all steel plants in Vietnam produced 3.2 million tons of products, up 8.8 percent on-year. Meanwhile, nearly 3.1 million tons of steel products were consumed in the Vietnamese market, up 12.9 percent, said the Vietnam Steel Association.

Vietnam spent over 9 billion U.S. dollars importing roughly 15 million tons of steel and iron last year, with China being the biggest import market with nearly 7 million tons of the products totaling 4.1 billion U.S. dollars, followed by Japan and South Korea, according to the department.