In October, the export of iron and steel of all kinds reached 1.2 million tons with a value of $ 1.2 billion, bringing the export volume of 10 months to 11 million tons, up 40% in volume, equivalent to a value of $ 9.6 billion. , up 132% over the same period last year.
According to the General Department of Customs, October is the fourth consecutive month that iron and steel export turnover reaches over 1 billion USD. Generally, in 10 months, iron and steel is also the commodity group with the highest growth rate among key export commodity groups of Vietnam.
Specifically, in October, the export of iron and steel of all kinds reached 1.2 million tons with a value of $1.2 billion, bringing the export volume of 10 months to 11 million tons, up 40% in volume, equivalent to a value of 9, 6 billion USD, up 132% over the same period last year.
In which, steel products alone reached 680 thousand tons, up 73% over the same period in 2020, accounting for nearly 70% of iron and steel exports, according to data of the Vietnam Steel Association (VSA).
Accumulating 10 months, steel exports reached nearly 6.4 million tons, up 77.5% over the same period in 2020, accounting for nearly 70% of iron and steel exports.
In the first 10 months of the year, iron and steel exports to China decreased by 15% over the same period. (Photo: Dantri)
In the first 10 months of the year, enterprises exporting iron and steel to the ASEAN market reached nearly 3.2 million tons, down 7%; to China reached 2.5 million tons, down 15%; to the EU reached 1.5 million tons, an increase of 8 times; to the US reached 775 thousand tons, up 5 times over the same period last year.
Explaining the signal of China’s reduction in steel consumption, the World Steel Association (World Steel) said that the construction and real estate industries have cooled down, reducing the motivation for this country’s steel consumption.
Besides, infrastructure investment will not be focused in 2021 because investors are not interested and resources from localities are limited.
World Steel forecasts steel demand for the whole year 2021 will decrease by 1% compared to 2020 thanks to steel demand from January to August pulling back, a growth rate of 2.7%.
Steel demand in 2022 is not expected to fluctuate much because the real estate sector begins to decline in view of the industry restructuring and environmental protection trends of the Government of this country.
In the opposite direction, in October, imports of iron and steel of all kinds reached 841 thousand tons, equivalent to 924 million USD, unchanged compared to September.
Accumulating 10 months, iron and steel imports reached 10.5 million tons, equivalent to 9.6 billion USD, down 6% in volume but up 45% in value over the same period in 2020.
Notably, imports of iron and steel from China reached 4.5 million tons, equivalent to 3.9 billion USD, up 53% in volume, import turnover doubled over the same period in 2020.
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