Steel exports surge 127 pct

Sep 19th at 08:51
19-09-2021 08:51:07+07:00

Steel exports surge 127 pct

Steel exports increased by 43.4 percent year-on-year in the first eight months to 8.54 million tons, and were worth US$7.1 billion, a 127 percent rise.

A man works at Hoa Sen steel mill. Photo by /Phuong Dong

In August, for a second month in a row, the billion-dollar mark was breached, with the value of shipments increasing 2.5-fold to nearly $1.5 billion.

The main export markets were Southeast Asia, which bought 2.7 million tons and China (1.8 million tons).

Exports to the E.U. and U.S. skyrocketed 7.5-fold and four-fold from 12 months earlier as demand there continued to soar.

Exports to Europe also benefited from the EU-Vietnam Free Trade Agreement, with many companies taking advantage of lower tariffs.

According to the Vietnam Steel Association, the country’s production capacity is around 24 million tons a year. Output this year is expected to reach 21.2 million tons, enough to meet domestic and export needs.

Vnexpress





NEWS SAME CATEGORY

China suspends dragon fruit imports through Vietnam’s northern border gate after discovering coronavirus on shipment

China has suspended dragon fruit imports from Vietnamese fruit manufacturers via a border gate in northern Quang Ninh Province, after the coronavirus was found on...

Vietnamese motorbikes discounted to stimulate demand during COVID-19

Due to the impact of the COVID-19 pandemic and social distancing in many provinces and cities across the country, the consumption of the Vietnamese motorcycle...

Vietnam goes past Thailand, becomes Israel's biggest tuna supplier

Vietnam surpassed Thailand in the first half of this year to become the biggest exporter of tuna to Israel.

Unsold meat and eggs pile up in southern localities

Seven million chickens, 80,000 ducks, 6,000 goats and millions of chicken eggs – this is the unsold stock that's piled up in the southeast region over the last few...

Covid restrictions put the brakes on car sales

The Vietnam Automobile Manufacturers Association said its members sold only 7,714 vehicles in August, the lowest number in seven years.

Car sales plummet for fifth consecutive month: VAMA

Domestic car manufacturers sold just 8,884 cars during August, a 32 per cent fall from the previous month marking the fifth consecutive month car sales plummeted...

VN's shrimp exports expected to increase by year-end

Many local seafood export enterprises forecast that the US and European markets will have high demand for importing shrimp at year-end.

Project looks to bolster Viet Nam’s dragon fruit exports to Europe

A project to improve the quality of tropical fruit grown in Viet Nam sponsored by the Dutch government has kicked off, offering chances for sustainable exports of...

Fish harvesting  teams need to be set up amid pandemic

Localities should establish groups and teams for harvesting fish that could facilitate the issuance of travel permits in groups instead of individual travel permits...

Vietnam coffee exports to UK plummet

Vietnam’s coffee exports to the U.K. have declined in H1 after its products failed to meet quality requirements and consumer preferences.

Commodity prices


MOST READ


Back To Top