Vietnam’s steel output up 4.4% in 2019 owing to HRC segment growth

Thursday, 06 February 2020 16:25:09 (GMT+3)   |   Istanbul

According to the latest report of the Vietnam Steel Association, steel production in Vietnam reached 25.26 million mt in 2019, up 4.4 percent, while its steel sales increased by 6.4 percent to 23.13 million mt compared to 2018. The fast growth of HRC output led to this good performance. Excluding the operating performance in the HRC segment, the overall pace of increase in the Vietnamese steel industry was 2-3 percent.

Higher local steel consumption led to an increase in the production figures, while steel export volumes in 2019 declined by 3.4 percent year on year to 4.59 million mt.

In December alone, Vietnam’s steel output went up by 6.25 percent month on month and 11.9 percent year on year to 2.26 million mt, reflecting the still positive development of the industry.

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