Vietnam’s “Legal News” reported on May 11 that Vietnam’s Deputy Prime Minister Liming Kai asked the Ministry of Industry and Trade to take measures to increase the production capacity of domestic steel products to meet basic domestic demand.
The Deputy Prime Minister of Vietnam also asked the Ministry of Industry and Trade to study and adjust the imbalance of steel supply in the market, and to give priority to satisfying the domestic market by adjusting and balancing the export volume of steel products.
Since the beginning of the year, the price of construction steel in Vietnam has risen sharply to 45%. According to the Bureau of Industry (Ministry of Industry and Trade), the reason for the increase in steel prices is the soaring price of raw materials for steel production in the global market, coupled with the new crown epidemic and the prolonged delivery time, which have also caused the price of steel to soar.
According to the previous forecast of the Vietnam Iron and Steel Association (VSA), steel prices will stop rising at the end of the second quarter. But for now, the situation is changing. When considering the situation in many markets such as China, the United States, India, and the European Union, it is believed that the momentum of rising steel prices will continue into the third quarter.
2021.07.26
The Ukrainian Iron and Steel Manufacturers Association has submitted a temporary ban on the export of scrap steel to the Prime Minister of the country, requesting it to consider banning the export of scrap steel from Ukraine before December 31, 2023 to ensure the stable development of the metallurgical industry and the country’s economy. The…
2021.07.23
According to statistics from the General Administration of Customs of Vietnam, the country exported 5.88 million tons of steel in the first half of the year, a year-on-year increase of 50.5%. Steel exports in June rose 4.3% year-on-year to 1.02 million tons. In the context of the recovery of domestic production and the growth of…
2021.06.15
The World Steel Association’s recently released “World Steel Statistics for 2021” shows that the global crude steel output in 2020 is 1.878 billion tons, an increase of 0.5% year-on-year, and the compound annual growth rate of crude steel output from 2015 to 2020 is 3.0%. From the perspective of steelmaking technology, in 2020, the global…
2021.06.15
China’s steel imports and exports in 2020: From January to December, the total export of steel products is 53.677 million tons, and the total import of steel products is 20.233 million tons. my country’s steel exports are far greater than steel imports. Among them, 16.085 million tons of plates were imported, an increase of 5.76…
