According to the Vietnam Steel Association (VSA), in January-July period this year finished steel production in Vietnam totaled 21.4 million mt, increasing by 15.4 percent year on year, while the country's steel product sales in the same month increased by 15.6 percent year on year to 21.18 million mt.
Meanwhile, in January-July period Vietnam's exports of finished steel increased by 4.2 percent to 6.69 million mt, with a value estimated at $4.54 billion, up by 7.4 percent, both year on year.
In the first seven months, the country's imports of finished steel rose by four percent to nine million mt, with a value of $6.68 billion, up 7.5 percent, both year on year.
In the coming period, the Vietnamese steel industry will continue to face challenges: Global overcapacity leading to domestic protectionism in steel export markets; pressure to reduce greenhouse gas emissions in line with the Government's commitments at COP26, the Transboundary Carbon Mechanism coming into effect in the EU and gradually becoming more widespread; dependence on imported raw materials.
