According to VSA, in the first quarter, steel exports reached 2.3 billion USD, imports reached 3.1 USD. Thus, the steel industry had a trade deficit of 800 million USD in the first quarter.
Steel exports increased sharply but did not catch up with imports
According to the Vietnam Steel Association (VSA), in March, Vietnam’s finished steel exports reached 956 thousand tons, up 75% from the previous month but down 22.8% over the same period in 2021. Export value steel exports in March also reached 909 million USD, up 72% compared to February and did not change much over the same period.
In the first quarter, Vietnam exported nearly 2.3 million tons of steel, equivalent to 2.3 billion USD, down 22% in volume but up 12.5% in value over the same period in 2021.
The main export markets of Vietnam include the ASEAN region (40.5%), the EU region (19%), the United States (8%), South Korea (7%) and Hong Kong (4%)…
(Source: VSA)
In the opposite direction, steel imports also increased strongly in both volume and value. Specifically, in March, finished steel imports into Vietnam reached 1.1 million tons with a turnover of $ 1.1 billion, up 23% in volume and 22% in value over the same period in 2021.
Generally, in the first quarter, imports of finished steel products of all kinds to Vietnam were about 3 million tons with a value of more than $3.1 billion, down 18% in volume but up 19% in value over the same period in 2021.
The main steel supplying countries for Vietnam include China (32.5%), Japan (16%), India (13%), South Korea (11%) and Taiwan (10%)…
Thus, in the first quarter, Vietnam’s steel industry had a trade deficit of 800 million USD.
(Source: VSA)
Steel export forecast in 2022 to increase 15%
In the first quarter, steel exports grew strongly, but still had a trade deficit of $800 million. But in general, steel exports in 2022 will have many opportunities and bright prospects.
In the steel industry report, Mirae Asset Securities forecasts that steel export output is expected to reach 8.7 million tons, up 15% compared to 2021.
Mirae Asset makes this forecast because the export market will continue to expand in 2022 under the impact of the war between Russia and Ukraine.
Currently, Russia ranks second in steel exports to the EU, with the proportion of 14% flat steel and 19% long steel; Ukraine accounts for 8% of flat steel and 7% of long steel, while Belarus accounts for 14% of long steel.
The serious shortage of supply will help Vietnamese steel companies continue to benefit from exports, especially from the European and American markets.
Mirae Asset believes that galvanized steel sheet manufacturers and exporters benefit from the current galvanizing sheet segment, which currently has about 30% of its total capacity left over, but the import demand for cold rolled steel (CRC) and color coated steel is very large. when supplies from China and Russia fell sharply.
In which, the three big men in the galvanized steel industry are Ton Nam Kim (Code: NKG), Ton Hoa Sen (Code: HSG) and Ton Dong A (Code: TDA).
T&G Import-Export Joint Stock Company
Address: 352 Hue Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi
Hotline: 0345786803
Email: hrm@tginterjsc.com
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