Posted on 23 Sep 2021
Vietnam’s iron and steel exports in August totalled 1.54 million tonnes, up 33.8% from the previous month, Kallanish observes from data released by the General Department of Vietnam Customs.
Monthly average realised prices of steel meanwhile climbed by 1% on-month to $955/tonne.
The two figures reached 8.54mt and $826/t over January-August, posting an increase of 43.4% and 58.2% respectively compared with the corresponding period last year.
The US surpassed Cambodia to become the second-largest destination country in August, but lagged behind Cambodia over January-August. China ranked first on both counts, reaching 477,319t and 1.8mt respectively.
As local consumption has been impacted by surging Covid-19 cases and social distancing measures, Vietnam is encouraging exports to support the steel industry. With global steel prices remaining strong, steel producers are making the most of this lifeline, especially in exports of semis to China and coated products to the US.
Source:Kallanish
