Steel demand in Vietnam supports production figures in July

Thursday, 15 August 2019 15:19:06 (GMT+3)   |   Istanbul
       

According to the Vietnam Steel Association, in July this year Vietnam’s steel production reached 2.1 million mt, up 1.4 percent compared to June and up 4.3 percent year on year. In the given month, the country’s steel sales reached 2.03 million mt, up 8.43 percent month on month and rising by 12.3 percent year on year. In June, the annual growth in steel production was only one percent. Coupled with higher imports, the higher growth rate in July indicates that demand is strong, supporting the local steel industry.

During the first seven months of the current year, steel production in Vietnam increased by 7.2 percent to 14.75 million mt, while steel sales increased by 10 percent to 13.7 million mt, both compared to the same period of the previous year

The VSA also pointed out that exporting steel to foreign markets is now more difficult due to trade defense barriers, especially in the EU and US.

 


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