Tag: steel

Vietnam’s iron, steel, and cast iron production surged by 225.2 percent in January compared to the 2019 baseline, according to Vietnam’s Industrial Production Index. However, this marked a decline from December 2024, when output was up 260.2 percent from 2019 levels.

China remained the top supplier, exporting US$430.29 million in December, up 4.32 percent month-on-month. South Korea followed with US$65.80 million, a 5.35 percent increase. The USA and Germany showed notable growth, with imports rising 28.88 percent and 24.00 percent, respectively.

Vietnam’s iron and steel products exports total US$4.59 billion for 2024.

Vietnam’s iron and steel exports total US$9.08 billion for 2024, reflecting strong demand despite the month-on-month decline.

China remained the largest supplier, contributing US$568.42 million, a 3.19 percent rise from November. Japan recorded the most significant monthly growth among major suppliers, surging by 24.57 percent to US$168.35 million. Imports from South Korea also rose by 9.51 percent to US$152.13 million.

Year-to-date exports stood at US$8.55 billion, with the United States being the top market, importing US$72.9 million in November, a rise of 22.67 percent.

Year-to-date exports stood at US$4.09 billion, with the USA as the largest importer at US$1.17 billion, despite a 10.44 percent monthly decline. Japan followed with US$559.99 million, experiencing a modest growth of 1.23 percent.

China remained Vietnam’s largest supplier, accounting for US$550.87 million, though this reflected a sharp drop of 46.04 percent month-on-month. Imports from South Korea grew by 8.17 percent, reaching US$138.92 million, while Japan recorded a 12.70 percent increase to US$135.15 million.

The production of finished steel products of all kinds reached 24.47 million tons, up 8.5 percent year-on-year. Among product categories, metal-coated and color-coated steel recorded the highest growth at 27.1 percent, followed by construction steel at 12.2 percent, steel pipes at 4.6 percent, and hot-rolled coil (HRC) at 3.2 percent. However, cold-rolled steel coil (CRC) production experienced a decline of 16.2 percent.

Year-to-date performance demonstrates robust growth. From January to October, Vietnam exported 11.03 million tonnes of iron and steel, valued at US$7.96 billion. This represents a 20.9 percent increase in volume and a 14.7 percent rise in value compared to the same period in 2023.

Vietnam’s steel exports fell 20.64 percent in value in September over August, according to data from Vietnam’s General Department of Customs. By the ton, they were also down 20.76 percent…

This adds to a growing list of investigations into steel import from Vietnam that includes South Korea, India, and the European Union and comes as cheap Chinese steel floods markets around the world. Of note there has been some suspicion that Chinese steel makers may be using Vietnam as an intermediary to circumvent trade tariffs in other countries on their own steel products…

Developing a steel project right now doesn’t seem to be particularly prudent in that there are a myriad of trade remedies investigations into steel imports around the world currently underway, including against steel from Vietnam. These trade remedies cases look to be the result of increased exports of cheap steel from China and Vietnam on the back of a fall in demand at home following slumps in their respective real estate markets…

India is now another in a growing list of countries with trade remedies investigation into Vietnamese steel–South Korea started an investigation back in June and the EU announced it had received an official complaint back in July…