Vietnamese 11-month steel production, exports rise

Vietnamese production of finished steel rose during the first 11 months of the year compared to the corresponding period of 2020. Coated steel sheet exports also soared during the period, Kallanish notes.

Vietnamese 11-month steel production reached 30.6 million tonnes, up 21.5% year-on-year, according to the Vietnam Steel Association. Finished steel sales reached 26.9mt, an increase of 17.8% y-o-y. This total figure comprised export sales of 7.1mt, which was a massive 73.7% jump.

In November alone, Vietnam’s production of finished steel products amounted to 2.9mt, up 9% y-o-y. Sales however reached 2.3mt, down 8.6%.

Vietnamese 11-month production of metallic and colour-coated steel totalled 5.4mt, up 37.1% y-o-y. Domestic and export sales were 4.9mt, up 37%. Exports touched 3.1mt, more than doubling on-year.

Hoa Sen, Tong Dong A and Nam Kam are the major producers of coated steel in the country, accounting for 35.9%, 17.7% and 14.6% respectively of the country’s combined domestic and export sales. The domestic market share held by Hoa Sen, Tong Dong A and Nam Kim is 29.5%, 13.9% and 10.4% respectively.

Anna Low Singapore