Việt Nam increases ore and mineral imports
Việt Nam increases ore and mineral imports
According to the General Department of Customs, Việt Nam’s ore and mineral imports in October surged by over 46 per cent in volume and value compared to September.
Copper ore mining activities at the mine of Đồng Tả Phời Joint Stock Company (Lào Cai). — VNA/VNS Photo |
This figure also saw a significant increase of 62.4 per cent in volume and 53.3 per cent in value year-on-year, reaching nearly 2.4 million tonnes, worth US$257.5 million.
Over the first ten months of 2024, imports rose sharply by 29.9 per cent in volume and 27.5 per cent in value year-on-year, amounting to 21.84 million tonnes, worth over $2.38 billion.
The average import price of ore and minerals in October was $107.8 per tonne, a decrease of 0.14 per cent compared to the previous month and a 5.6 per cent drop compared to the previous year.
Over the first 10 months, the average import price was $109 per tonne, down 1.8 per cent year-on-year.
Regarding markets, Việt Nam imported ore and minerals from 21 major markets in the first ten months.
Australia was the largest supplier, exporting 9.75 million tonnes to Việt Nam, an increase of 29.4 per cent in volume and 26.9 per cent in value.
Brazil was the second-largest supplier with 5.96 million tonnes worth $681.07 million, up 54.2 per cent in volume and 42.3 per cent in value compared to the same period last year.
China ranked as the third-largest market but was the only one among the top eight markets to see a decline in volume, dropping 32.9 per cent year-on-year to 465,594 tonnes.
Notably, imports from Turkey rocketted, reaching 238,799 tonnes worth $35.8 million, up by 1,447 per cent. Việt Nam also imported 192,841 tonnes from India, marking a 16.31 per cent increase year-on-year.
In terms of value, ores and minerals from Australia accounted for the highest import turnover at $1.08 billion, up 26.86 per cent year-on-year, followed by Brazil with $681 million, up 42.16 per cent.
