Vietnam’s steel exports to China surge in Jan-May due to billet sales

Monday, 29 June 2020 17:23:32 (GMT+3)   |   Istanbul
       

Vietnam exported an unexpectedly high volume of billets to China during the first five months of the current year, according to the Vietnam Steel Association. Vietnam’s steel exports to China in the given period amounted to 570,000 mt, mostly billets, indicating a 540,000 mt increase compared to the same period last year. Exporting steel, particularly billet, to China is a good signal for the Vietnamese steel industry, SteelOrbis understands.

Vietnam Steel Association chairman Nghiem Xuan Da stated that the amount of steel billet exported to China increased sharply with the great contribution of Hoa Phat Group. Meanwhile, Formosa Ha Tinh produces steel billet and finished steel products, while it sells 80 percent of its products in Vietnam and the rest is allocated for export.

According to customs data, in the January-May period Vietnam’s iron and steel exports increased by 3.1 percent to three million mt, while the country’s iron and steel imports in the period totaled 3.36 million mt, including 1.9 million mt from China. 


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