Steel imports top $2.5 bln

Imports of steel and steel products have topped US$2.5 billion so far this year, 16 percent up over the same period last year, the General Statistics Office said.

Steel billets, stainless steel, hot-rolled steel, and steel sheets were the top import categories.

China was the largest supplier, following by Japan and Korea.

Vietnam remains a net steel importer. Last year its imported 10.98 million ton of steel and steel products worth $7.09 billion while exports were $1.17 billion.

This year the government has been encouraging domestic production of billets to reduce import.

The Ministry of Finance recently proposed a 6 percent tax on export of construction steel but exporters are opposed to it. – Tuoitrenews

Tags: Vietnam Steel Imports, Vietnam steel industry, Vietnam steel market

Posted by VBN on Jun 13 2011. Filed under Import-Export, Steel. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry