Posted on 22 Feb 2024
Vietnam’s steel exports and imports in January soared both month-on-month and year-on-year, Kallanish learns from Vietnam’s General Department of Customs.
January exports of iron and steel surpassed 1.16 million tonnes, rising 7.1% m-o-m and 84.4% y-o-y. The average realised price also hiked, by 3.9% from the year-ago level to $709/tonne.
Meanwhile, the country imported 1.49mt of iron and steel, surging 27.2% on-month and 151.3% on-year. The average price, however, lost 3.9% over December and fell 19.8% y-o-y to $712/t.
With import surging, Vietnam reduced monthly scrap imports by 18.8% compared with December to 356,301t. The price jumped 11.3% to $396/t. On a y-o-y basis, the January volume was still 78.4% higher.
Source:Kallanish
