In the January-May period of the current year, domestic finished steel production in Vietnam totaled 7.87 million mt, increasing by 12 percent compared to the same period of 2016, as announced by the Vietnam Steel Association (VSA). In the same period, domestic finished steel sales in Vietnam rose by 7.2 percent year on year to 6.43 million mt.
Meanwhile, according to the VSA, in January-May period of this year Vietnam’s finished steel imports reached over 5.59 million mt, up by one percent, while the value of these imports amounted to $3.16 billion, rising by 52 percent, both on year-on-year basis. China was the main import source in the given period, supplying more than 2.76 million mt, accounting for 49 percent of total finished steel imports. In the first five months, Vietnam’s finished steel exports increased by 43 percent year on year to 1.44 million mt, with a value of $970.4 million, up 78 percent year on year. The Association of Southeast Asian Nations (ASEAN) region was the main market, receiving exports of over 823,000 mt, accounting for 62 percent of total finished steel exports.