Posted on 26 Oct 2021
The Vietnamese steel industry is gradually recovering from the impact of Covid-19, which has severely hit the industrial and construction sectors.
Vietnam's steel production in September was 2.4 million tonnes, up by 2.13% on-month and flat compared with the same period of 2020. Steel sales meanwhile increased by 15.79% on-month and 3.29% on-year to 2.2mt, Kallanish learns from Vietnam Steel Association (VSA) data.
In the first nine months of 2021, steel production and sales continued to maintain stable growth overall. Steel production and sales reached 23mt and 20.2mt respectively in January-September, up 24.32% and 21.67%.
The association also reports that, although Vietnam's nine-month steel imports edged up just 1% in volume to 14.9mt, their value surged 44% to $11 billion on higher prices. Vietnam exported more than 5.7mt of steel products in the nine months, up 78.1% on-year. VSA forecasts steel exports will regain growth momentum over the remaining months of the year, following the removal of Covid-19 restrictions.
Source:Kallanish
