Vietnamese steel producers continued to focus on expanding sales to overseas markets in October to offset weak domestic demand. Although the import volume increased slightly in October, the total import volume from January to October still fell year-on-year.
Vietnam maintained its export activities from January to October, and sold 11.07 million tons of steel products in foreign markets, an increase of 40% year-on-year. According to statistics from the Vietnam General Administration of Statistics, although export sales in October were down 10% from September, shipments increased by 30% year-on-year to 1.22 million tons.
Vietnam's main trade direction is the ASEAN region. However, the country's steel shipments to the United States (mainly flat products) also increased fivefold to 775,900 tons. In addition, there has also been a significant increase in the European Union. Especially from January to October, exports to Italy increased by 17 times, reaching 456,200 tons, while exports to Bilisi increased by 11 times to 716,700 tons. Steel exports to China reached 2.45 million tons, a year-on-year decrease of 15%.
In addition to strong overseas demand, the growth in exports was also driven by higher sales by large local producers.
Win Road International Steel Product
Post time: Nov-16-2021