Steel export posts strong increase in 2016
Steel export posts strong increase in 2016
Export of steel products in the first eight months this year reached 1.77 million tonnes, an increase of 49 per cent from the previous year, according to the Vietnam Steel Association (VSA).
During the period, the country produced 11.5 million tonnes, up 29 per cent from earlier year and consumed 9.5 million tonnes, an increase of 29 per cent.
The price of construction steel went up in August and September, by VND150,000-300,000 ($6.7-13.4) per tonne, reaching VND9.5-9.9 million per tonne.
In the same period, 13.7 million tonnes of steel products were imported at a cost of US$5.15 billion, up 62.5 per cent in volume and 15 per cent in value. China accounted for 6.5 million tonnes or nearly 60 per cent of the total imported steel volume.
