Vietnam's steel industry records strong growth in production and sales

At the same time, sales of steel products in the country reached 2.53 million mt, up 13.1 per cent from October and a significant 30.1 per cent y-o-y increase.

In the January-November period, Vietnam's steel output decreased by 7.8 per cent to 25.01 million mt. Similarly, the country's steel sales in this period totalled 23.70 million mt, down 5.6% from the first nine months of the previous year.

In October, Vietnam's finished steel imports reached 1.28 million mt, down 8.94 per cent from the previous month but up a significant 53.96 per cent y-o-y. The country's imports of finished steel products in the first 10 months reached about 10.61 million mt, up 8.61 per cent y-o-y.

In the same month, Vietnam's exports of finished steel reached 908,000 mt, up 5.06 per cent on month and an impressive 71.47 per cent on year. In the January-October period, Vietnam's processed steel exports totalled 9.14 million mt, up a significant 30.74 per cent y-o-y.