Posted on 16 May 2024
In April this year, Vietnam's iron and steel exports held steady compared with the prior month, but imports of both steel and scrap posted a rapid decrease, Kallanish learns from preliminary data given by the General Department of Customs, Vietnam.
Monthly exports reached 1.11 million tonnes, up just 0.9% over March. Meanwhile, exports by value kept stable, reflecting stable export prices in the past two months. On a year-on-year basis, the export volume was 14.4% higher.
As a result, total exports in the first four months of the year surged 33.7% y-o-y to 4.34mt, with total turnover soaring 28.1%.
Meanwhile, the country imported 1.28mt of steel in the reporting month, down 10.7% month-on-month but up 24.3% y-o-y. This boosted four-month imports to 5.37mt. During the period, Vietnam purchased 42.5% more compared with the same period of last year, but costs only increased 23%.
Besides, Vietnam also imported 407,640t of steel scrap in April, which was down 11.6% from on-month. In the meantime, the average realised price fell by 4.5% to $370/tonne.
Between January and April, scrap imports dropped by 8% y-o-y to 1.69mt, with the average purchasing price falling 5.2% at $383/t.
Source:Kallanish
