Vietnam's steel imports fell in April, while exports remained stable

The four-month import tally reached 5.37 million tons. Although Vietnam imported 42.5% more steel compared to the same period last year, costs only rose by 23%.

Similarly, steel scrap import also experienced a decline in April. With a monthly drop of 11.6%, scrap import decreased to 407,640 tons, marking an 8% decrease on a yearly basis. The average scrap purchase price also fell by 4.5% to $370 per ton.

In contrast, Vietnam's steel export maintained its stability in April. With just a 0.9% increase compared to March, exports reached 1.11 million tons. On a yearly basis, exports showed a significant increase of 14.4%. Total exports for the first four months rose by 33.7% annually to 4.34 million tons, with revenue increasing by 28.1% to $4.8 billion.

These figures depict a complex scenario in Vietnam's steel sector. While imports are declining along with prices, exports are maintaining stability and experiencing significant annual increases. This situation highlights the impact of global steel market fluctuations on Vietnam and underscores the uncertainty surrounding the sector's future.