Experts forecast that for the rest of 2021, Vietnam’s steel product exports show many optimistic signals.
The Vietnam Steel Association (VSA) said that in the first nine months of 2021, the production and consumption of steel products of all kinds still increased quite well due to inheriting the good business results of the first months of 2021.
Specifically, according to VSA, finished steel production in 9 months reached more than 24.8 million tons, up 34.1% over the same period in 2020; steel consumption of all kinds reached nearly 22 million tons, up 32.5% compared to; in which, steel exports of all kinds reached more than 5.7 million tons, up 78.1% over the same period in 2020.
Crude steel production reached 17.79 million tons, up 24% over the same period in 2020. Consumption reached 17.15 million tons, up 22%; in which, exports reached 1.59 million tons, down 31.7% over the same period in 2020.
According to VSA, steel imports to Vietnam were 14.9 million tons with a value of more than 11 billion USD, up 1% in volume and 44% in value over the same period in 2020.
Export of finished and semi-finished iron and steel reached 10.6 million tons with a value of more than US$9 billion to more than 20 countries and regions around the world in the first eight months of 2021, increasing 40% in volume and doubling in volume. 2 times in export value compared to the same period in 2020. This is the driving force for the steel industry to maintain its overall growth over time.
If in the third quarter of 2021 alone, finished steel production reached nearly 7.16 million tons, an increase of 4% over the same period in 2020. Consumption of finished steel products of all kinds in the third quarter reached more than 6.2 million tons, a decrease of times. 7%, compared to the same period in 2020.
However, the good growth in the first months of the year helped the steel industry maintain a good increase in recent years.
VSA leadership representative said that the prospect of Vietnam’s steel market in the fourth quarter of 2021 will be better when the provinces and cities gradually control the epidemic and the direction of the Vietnamese Government to restore the economy after the pandemic. .
Commenting on the export situation of the steel industry in the last 3 months of the year, experts said that there are still many positive signs. Accordingly, the world’s major steel production centers such as the EU, the United States, Japan, and South Korea continue to focus on meeting domestic demand, restricting exports and increasing import volumes from other countries, including Vietnam.
The fact that the US – a major import market in the world opened up the economy after controlling the epidemic with a program to promote investment of trillions of dollars from the administration of President Joe Biden, including building infrastructure and infrastructure. floors have boosted the demand for construction materials. Thanks to that, many Vietnamese steel exporters such as Ton Hoa Sen or Hoa Phat have increased their export output to this market in recent years.
Despite continuing to extend steel production cuts in Tangshan (to reduce air pollution levels in this place before the 2022 Winter Olympics in Beijing next February) until the end of the year. March 2022, but analysts believe that China will soon increase steel imports again. This also creates favorable conditions for Vietnam’s steel products to increase exports to this market.
VSA leadership representative said that the prospect of Vietnam’s steel market in the fourth quarter of 2021 will be better when the provinces and cities gradually control the epidemic and the direction of the Vietnamese Government to restore the economy after the pandemic. . In general, steel export forecast in 2021 will grow well.
Besides, with the FTAs being signed and the recovery of production and construction investment will be a factor to help the steel industry’s growth be more positive in the year-end period.
Also according to a forecast from the World Steel Association, the wave of diseases, new infections and supply constraints have led to a slow recovery in the second half of the year and are preventing a stronger recovery momentum in the year. 2021. But with high order backlog, resumption of construction along with better vaccination in countries, expect steel demand to continue to recover in 2022.
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