In the January-August period of the current year, Vietnam’s steel imports amounted to 9.65 million mt, up by 4.1 percent year on year, according to the latest customs statistics. In the same period last year, Vietnam’s steel imports decreased by over 10 percent.
During the given period, Chinese exports to Vietnam continued to decrease, amounting to 3.88 million mt, down 10.7 percent year on year. Meanwhile, imports from India more than doubled to 957,348 mt and South Korea’s exports to Vietnam registered a 3.9 percent decline in the first eight months.
In August alone, Vietnam steel imports went up by 9.3 percent year on year to 1.28 million mt, rising by 3.3 percent compared to July. The month-on-month growth rate slowed down compared to a 19.1 percent increase seen in July.
In August, Vietnam imported of steel products 415,495 mt from China, 12.8 percent lower compared to the same month of the previous year. On the other hand, India exported 235,164 mt of steel products to Vietnam, compared to 109,347 mt in August last year.