In July this year, steel production in Vietnam totaled 2.1 million mt, increasing by 7.7 percent month on month, while remaining stable year on year, according to the Vietnam Steel Association. In the given month, steel sales increased by 11.25 percent month on month and declined by 3.6 percent year on year to 1.95 million mt.
In the January-July period of the year, steel production in the country fell by 6.9 percent compared to the same period of the previous year, while steel sales were down by 9.6 percent year on year.
At the same time, according to customs data, in July, total iron and steel imports arriving in the country reached 1.42 million mt, up by 19.2 percent compared to June while steel exports increased by 0.4 percent month on month to 885,366 mt. However, in the first seven months of the year, imports amounted to 8.13 million mt, declining by 2.8 percent compared to the corresponding period of the previous year, while exports rose by 23.8 percent year on year to 4.79 million mt.
Besides, Vietnam is expected to show positive growth in 2020 as the government is pushing for the resumption of more construction activities and promoting public investment to support economic development in the country, the association said.