steel

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…