Vietnam’s steel output and imports decline in January-April

Vietnam’s steel output and imports decline in January-April

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According to the Vietnam Steel Association (VSA), in April this year steel production in Vietnam totaled 1.85 million mt, falling by 12.5 percent from the previous month and by 15.2 percent year on year, while steel products sales in the same month were down 16.6 percent compared to March and declined by 15.6 percent from April 2019 to 1.72 million mt. The country’s steel exports totaled 261,816 mt, decreasing by 37.99 percent compared to the previous month and down 36.5 percent from the same month of last year. At the same time, steel imports amounted to 1.14 million mt in April, down 14.4 percent compared to March, according to the data published by Vietnam’s General Department of Customs.

In the January-April period this year, steel production in Vietnam dropped by 8.4 percent year on year to 7.58 million mt, while steel sales in the country fell by 13.3 percent year on year to 6.75 million mt. Export shipments amounted to 1.28 million mt in the first four months of the year, dropping by 25 percent compared to the same period of the previous year.

Besides, in the first four months, 4.45 million mt of steel were imported into the country, decreasing by 4.7 percent year on year.

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