News Room - Steel Industry

Posted on 03 Apr 2024

Vietnam’s steel product imports hike in Jan-Feb y-o-y

According to data from Vietnam’s customs, in the first two months of 2024, Vietnam imported steel products with about 2.6 million tons, soaring by almost two times compared to the same period a year ago. Among them, the imports from China reached about 1.8 million tons, skyrocketing by around three times year on year. Vietnam’s steel enterprises indicated high imports, especially from China, threatened local producers.

According to statistics from the Vietnam Steel Association (VSA), in 2023, the steel production and consumption of its members were 28 million tons and 26.3 million tons, respectively. Therefore, local production capacity can meet domestic demand.

Source:Yieh