According to the General Department of Customs, iron and steel imported to Vietnam in September continued to decrease 15.3% in volume and 3.7% in turnover compared to August, reaching 1.01 million tons, equivalent to 629.49 million USD. However, the import price increased by 13.8% to 622.5 USD/ ton.
Generally, in the first nine months of 2020, iron and steel imports reached 10.36 million tons, equivalent to 6.05 billion USD with an average price of 584.2 USD/ ton. Compared to the same period last year, imported iron and steel decreased 4% in volume, 15.9% in turnover, and 12.4% in price.
Vietnam still buys the highest amount of iron and steel from the Chinese market with 2.84 million tons, equivalent to nearly 1.78 billion USD, the average import price reported is 626.5 USD/ ton. However, this number has decreased sharply by 33.8% over the same period last year, resulting in a 34.6% decrease in turnover and a 1.2% decrease in prices. Several years ago, the amount of iron and steel imported from China accounted for more than 40%. This year, the amount only takes up 29.4% of the total import turnover of iron and steel of the country.
Meanwhile, the amount of iron and steel from other markets imported into Vietnam increased. Imports from Japan reach 1.98 million tons, equivalent to 1.07 billion USD, up 29.2% in volume, and 4.2% in turnover, accounting for 19% of the total volume imported into Vietnam. Imports from India reached 2.08 million tons, equivalent to 908.77 million USD, increasing sharply 77.4% in volume, 46% in turnover, accounting for 20% of the total volume.
Although the purchase from some other markets also increased sharply. For example, imports from the Saudi market increases by 36,490% in volume and 20,613% in turnover compared to 9 months of 2019, reaching 30,370 tons, equivalent to 12, 63 million USD.
- Iron and steel exports soar by 44% over nine-month period
- Hoa Sen exports 50,000 tons of corrugated iron to Europe and America
- Hoa Phat sold nearly half a million tons of steel in August
- Ba Ria – Vung Tau Customs: Pressure from revenue collection in final months of 2020
- Hoa Phat consumed nearly half a million tons of steel in August
- Ba Ria – Vung Tau: Many disadvantages in import – export activities
- Import-Export reached US$ 1.5 billion each day in the second half of June
- In the first 7 months of the year, Hoa Phat steel pipe consumption decreased by more than 11,000 tons
- Opportunity to recover steel, cement industries