Posted on 23 Jun 2021
Vietnam's steel production continued to grow in May, but sales volumes declined from April due to the off-peak season, Kallanish notes.
According to data from the Vietnam Steel Association (VSA), steel production increased by 3.53% on-month to 2.92 million tonnes in May, seeing an increase of 40% on-year. Sales of steel declined by 8.42% from April but were up 30.8% on-year to 2.48mt. During the same period, steel exports remained positive, rising 18.04% month-on-month and up by 2.4 times year-on-year to 630,551t.
The steel market experienced a surge in the first half of 2021 and is actively recovering from the Covid-19 hit. Vietnam's steel production and sales increased by 38.7% and 38.2% y-o-y respectively to 13.4mt and 12mt in the first five months of the year. Included in the sales figures, the export volume of various steel products was 2.8mt, an increase of 80% over the first five months of 2020.
Vietnam Customs data shows that five-month steel imports reached 6mt, including 1mt of imports in May alone.
Source:Kallanish
