The Vietnamese steel import volume from January to June was estimated to reach 7 million tons, down by 11.6% year on year while the amount was expected to reach US$5 billion, up by 8.3% year on year.
According to the data from the Ministry of Industry and Trade, the import volume of other general metals totaled 910,000 tons in the first half of this year, declined by 2.2% year on year while the amount recorded at over US$3 billion roughly, rose by 16% year on year.
Vietnam spent over US$9 billion to import about 15 million tons iron and steel in 2017. China ranks as the biggest imported source with the volume of 7 million tons and around amount of US$4 billion.
As for the production and sales, it was reported that the Vietnamese mills produced about 21 million tons of steel in 2017, up by 24.3% year on year. In the meantime, Vietnam exported about 300,000 tons of billet.