Steel imports from China go up

23.05.2019

Steel imports from China surged by 7.3 per cent to nearly 2 million tons during the first four months of this year, totaling US$1.22 million in value

Vietnam Economic Times cited newly-released data from the General Department of Vietnam Customs as showing that steel imports escalated to 4.67 million tons during the four-month period, with a total

value of US$3.13 billion. These figures indicate annual surges of 9 per cent in volume and 3.4 per cent in value.

In April, steel imports fell by more than 3 per cent in both volume and turnover against March. Howver, they still increased respectively by 11.6 per cent and 2.9 per cent compared to the corresponding period last year.

The price of imported iron and steel in April slumped by 7.8 per cent on year to US$668.6 per ton, thus pulling the four-month average down 5.2 per cent to US$670.3 per ton.

China was the leading source of steel and iron imports for Vietnam during the four-month period, with a total volume of 1.95 million tons, worth US$1.22 million. This figure represents nearly 42 per cent of the
Southeast Asian country’s total import volume and some 40 per cent of the total turnover.

Source: Vietnam.net

Photo: VAM