In April, construction steel exports only reached 175 thousand tons, a sharp decrease of 44% compared to March. The reason was the plunge in raw material prices, which slowed down construction steel consumption demand.

According to the Vietnam Steel Association (VSA), in April, steel exports reached 633.5 thousand tons, up 15% compared to April 2021. Accumulating 4 months, steel exports reached nearly 2.5 million tons, up 9% over the same period last year.

Particularly for construction steel, export volume in April reached 175 thousand tons, sharply decreased by 44% compared to March but increased by 5% over the same period in 2021.

Previously, construction steel exports in March had a strong breakthrough in March when reaching 313 thousand tons, up 76% over the same period in 2021.

Generally, in 4 months, construction steel exports reached 888 thousand tons, up 42% over the same period in 2021, accounting for 35% of total steel exports.

Explaining this decrease, VSA said that from the end of March until now, the price of raw materials has plummeted, causing the demand for construction steel to slow down.

Distributors seek to reduce inventory, so the amount of exported goods is much lower than usual. In addition, businesses are also looking for more markets and boosting exports to Cambodia, Hong Kong, Canada, the US…

Recently, Hoa Phat Group said that construction steel consumption in April reached nearly 300,000 tons, down 30%, mainly because the inventory at dealers from the previous month was still there. However, export volume still increased 28% compared to April 2021 and reached 93,000 tons.

According to VSA’s data, in the first four months of this year, Hoa Phat achieved 35.9% market share of construction steel consumption, leading the industry.

T&G Import-Export Joint Stock Company

Address: 352 Hue Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi

Hotline: 02473010868

Email: hrm@tginterjsc.com

Website: http://tgimportexport.com