Steel exports in the first half of 2021 increased by nearly 85%

VSA said that in the first 6 months of the year, steel sales reached more than 14 million tons, up 35% over the same period last year. In particular, steel exports reached more than 3.4 million tons, up nearly 85% over the same period in 2020.

According to the Vietnam Steel Association (VSA), in June steel production reached 2.5 million tons, down 12% in volume compared to May but up 31% over the same period in 2020.

Steel sales reached nearly 2.1 million tons, down 15% compared to May but up 19% over the same period in 2020. In particular, steel exports reached nearly 622 thousand tons, not much fluctuation compared to the previous month but doubled compared to June 2020.

Accumulated in the first 6 months of the year, steel production reached nearly 16 million tons, up 37% over the same period in 2020.

Steel sales reached more than 14 million tons, up 35% over the same period last year. In particular, steel exports reached more than 3.4 million tons, up nearly 85% over the same period in 2020.

According to VSA, in May, steel exports in nearly 980 thousand tons equivalent to 832 million USD decreased by 4% in volume but increased 8% in value compared to April. However, steel exports increased by 29% in volume, an increase of nearly 2.5 times compared to May 2020.

Accumulated in the first 5 months of the year, steel exports reached nearly 4.9 million tons equivalent to 3.6 billion USD to more than 20 countries and regions around the world. In particular, the main export markets are ASEAN, EU, USA, China ...

In May, steel exports increased nearly 2.5 times over the same period in 2020 (Source: VSA)

Steel exports to ASEAN, Vietnam's largest market reached 1.8 million tons, equivalent to nearly 1.3 billion USD, up 8% in volume and 43% in value over the same period in 2020.

After ASEAN, China is the second largest steel export market with nearly 1.1 million tons, equivalent to 603 million USD, up 89% in volume and 158.5% in value over the same period in 2020, accounting for nearly 17% of vietnam's total steel exports in the first 5 months of the year.

In the opposite direction, in May steel imports to Vietnam reached 951 thousand tons equivalent to 900 million USD, down 29% in volume and 16.5% in value compared to April and down 9% in volume, up 44% in value compared to May 2020.

Accumulated in the first 5 months of the year, steel imports reached 6 million tons with a value of USD 4.7 billion, up 8.5% in volume and 38% in value over the same period in 2020.

Steel imports from China account for 50% of the country's total import turnover (Source: VSA)

In 5 months, the amount of steel imported from China reached more than 3.1 million tons, equivalent to the value of 2.3 billion USD, accounting for 52% of the total steel imports and 50% of the total import turnover of the country.

After China, the main steel supply markets for Vietnam include Korea accounting for 13%, Japan accounting for 13%, Taiwan 8.5%...

In the face of fluctuations in the domestic steel market, the Ministry of Finance has just sent a written request to the Government to reduce 5-10% import tax on some steel products in order to lower the price of construction steel.

The agency also forecasts a significant impact because the demand for steel imports is not high. In addition, these steels in the country have also been manufactured and basically meet the needs.