Steel import drops 15pct, exports up 30pct

Vietnam Steel Association (VSA) estimated that the whole year steel import may reduce by 15 percent against the same period last year. However, the export volume may see significant increase.

According to the statistics released by VSA, Vietnam was estimated to import steel products of 10.5 million tonnes, declining by 1.8 million tonnes or 15 percent against that of last year because Vietnam has produced large volume of cold-scrolled steel, in addition to the stockpiled volume kept by the steel producers.

Therefore, in order to expand the consumption market, the steel enterprises have focused on exporting products overseas. VSA predicted that the steel export volume may reach 1.3 million tonnes, an increase of 30 percent year-on-year. – TBKTVN

Tags: Vietnam steel exports, Vietnam steel industry, Vietnam steel market

Posted by VBN on Nov 30 2010. Filed under Steel. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry