Vietnam Steel Association recently announced that Vietnam’s steel market in the first 6 months of 2021 showed positive signs of recovery. Steel production of all kinds reached 15.92 million tonnes, up 37% over the same period in 2020 while sales reached 14.06 million tonnes, up 35% over the same period in 2020 in which the export of steel of all kinds reached 3.42 million tonnes, up 84.4% compared to the first 6 months of 2020. On the oher hand, steel imports to Vietnam in the first 5 months of 2021 Vietnam were 5.97 million tonnes with up 8.43%. In the 5 months of 2021, the amount of steel imported from China is more than 3.12 million tonnes, accounting for 50% of total steel imports.
However, Vietnam’s steel market slowed down in June 2021. Production of steel reached 2.56 million tonnes, down by 12% over the previous month but up by 31% YoY. Sales of steel of all kinds reached 2.09 million tonnes, down 15% compared to May 2021, but up 19.2% YoY in which, steel exports of all kinds reached 0.62 million tonnes, down 1% compared to the previous month, and increased more than 2 times compared to the same period in June 2020.
Source: STEELGURU
|