JavaScript is off. Please enable to view full site.

Vietnam sells 23mn metric tons of steel products in 2021

Vietnam sells 23mn metric tons of steel products in 2021

Wednesday, January 19, 2022, 12:50 GMT+7
Vietnam sells 23mn metric tons of steel products in 2021
A long vehicle carries steel products in Vietnam. Photo: T.N.N. / Tuoi Tre

Vietnam’s sales of steel products reached 23 million metric tons in 2021, up 17 percent from 2020, according to Nghiem Xuan Da, chairman of the Vietnam Steel Association.

The Southeast Asian country exported more than 14 million metric tons of steel products last year, earning about US$12.7 billion, while importing 13 million metric tons worth over $12.2 billion, down seven percent in volume but up 38 percent in value over the same period in 2020.

The nation’s top five steel export markets in 2021 were ASEAN, mainland China, the EU, the U.S., and Taiwan, which were sorted by size, while its major steel supplier was China, accounting for about 41.38 percent of the total steel imports and 39.04 percent of the total import turnover. 

Japan, South Korea, and India supplied 14.51 percent, 13.63 percent, 12.2 percent to Vietnam, respectively.

Construction steel shipments increased 1.5 times year on year, equivalent to 2.22 million metric tons, thanks to favorable factors, such as environmental policies, adjusted export tax refunds from the Chinese government, and recent fluctuations in ore, coke, and scrap prices.

Assessing the prospect of Vietnam’s steel market in 2022, chairman Da emphasized the importance of “the government’s thorough instructions to stabilize and develop production and business activities while flexibly adapting to the COVID-19 pandemic.”

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Tuoi Tre News

More

Read more

Is Apple 'pampering' Vietnamese market?

The genuine products sold in Vietnam have good prices when compared to other markets in the region, maybe even more affordable than in the U.S.

5 days ago
;

Photos

VIDEOS

‘Taste of Australia’ gala dinner held in Ho Chi Minh City after 2-year hiatus

Taste of Australia Gala Reception has returned to the Park Hyatt Hotel in Ho Chi Minh City's District 1 after a two-year hiatus due to the COVID-19 pandemic

Vietnamese woman gives unconditional love to hundreds of adopted children

Despite her own immense hardship, she has taken in and cared for hundreds of orphans over the past three decades.

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Latest news