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Vietnamese steel exports have increased and imports decreased

20 January 2019

Vietnam Steel Association summed up the results of last year. According to her, Vietnamese steel exports increased. National steel company sent abroad to 6.3 million tons of steel. Compared to the previous year, the index rose 33.5%. Naturally, this has led to the growth of revenues from exports. It amounted to 44.8%. Thus, Vietnamese suppliers have earned $ 4.6 billion. Mainly export deliveries were carried out in the USA, Cambodia and Thailand. In addition, increased exports to Japan and Malaysia.

Vietnamese steel company satisfied last year. For the current year they plan to achieve even greater results. Mainly for producers of cold-rolled sheet steel and coated. They are planning to enter new foreign markets. This is facilitated by the introduction of steel duties USA. In addition, Vietnam has decreased the rate of growth. On average over the past year power has been downloaded by 63%. At the same time was commissioned a new power. We are talking about a steel mill, Formosa Ha Tinh. It had started the second blast furnace. This has made it a major exporter of hot-rolled steel.

As for the Vietnam import, it on the contrary decreased. The reduction was 9.6%. Thus, the figure dropped to 13.6 million tonnes. Mainly imported steel products from China, Japan and Korea. In the past year grew by only import raw materials. A consumer just stands the mill, Formosa Ha Tinh. Deliveries are made via new deep-water port. He is called the son Duong. This year, the import of raw materials may increase. With regard to steel production, its import will be even less. However, everything can change.

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