According to the Vietnam Steel Association (VSA), in October this year steel production in Vietnam totaled 2.39 million mt, remaining unchanged compared to the previous month and rising by 11.7 percent year on year, while steel product sales in the country in the same month were down 14.8 percent compared to September and declined by 2.4 percent from October 2019 to 1.81 million mt. The country’s steel exports totaled 399,623 mt, decreasing by 19.7 percent compared to the previous month and up 16.5 percent from the same month last year.
In the January-October period this year, steel production in Vietnam dropped by 0.3 percent year on year to 20.91 million mt, while steel sales in the country fell by 4.1 percent year on year to 18.38 million mt. Export shipments amounted to 3.64 million mt in the first 10 months of the year, dropping by 6.4 percent compared to the same period of the previous year.
According to the association, the government’s successful control of the spread of the coronavirus has contributed to the country’s economic growth this year.