Vietnam Spends Less Importing More Steel In 7 Months

Release time：Aug 06, 2019 From：admin

Vietnam Spends Less Importing More Steel In 7 Months

Vietnam spent nearly 5.7 billion US dollars importing 8.4 million tonnes of steel and iron between January and July, down 2.4% in value but up 4.5% in volume against the same period last year. In July alone, the country imported nearly 1.3 million tonnes of the products worth 848 million US dollars, up 6.7% in volume but down 3.9% in value against July 2018.

Vietnam Steel Association said that Vietnamese steel sector annually imports 90-95% of materials for production, including iron ores, metal scraps, and coke fuel, mainly from China, South Korea and Japan.

In 2018, Vietnam poured nearly 9.9 billion US dollars into importing roughly 13.6 million tonnes of steel and iron, down 9.6% in volume but up 9% in value against 2017.

Meanwhile, the country reaped 4.6 billion US dollars from exporting 6.3 million tonnes of the products, seeing respective surges of 44.8% and 33.5 percent, according to its General Statistics Office.

https://steelguru.com/steel/vietnam-spends-less-importing-more-steel-in-7-months/545557