Vietnam becomes a steel importer again

Vietnam became a net importer again in the first half of 2022.
In the January-June period of this year, the volume of steel product supplies to Vietnam amounted to 6.48 million tons, which is 8% less than the same period of the previous year. Exports decreased by 17% to 4.34 million tons At the same time, Vietnamese companies sold 786.4 thousand tons of rolled products and semi-finished products abroad in June, 10% less than in the same month of 2021. Imports increased by 11% and reached 1.24 million tons.

The main reason for the decline in Vietnamese steel exports was the sharp decline in semis supply to China. Vietnamese metallurgists expanded their steel product exports to the USA, some countries in Europe and East Asia.