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 demand in China, ASEAN, Europe and the United States, Vietnam's steel exports in the first half of the year increased significantly, and the prospects are optimistic.
China is the main destination of Vietnam's steel exports, exporting 1.2 million tons to China in the first half of the year, a year-on-year increase of 14%. Vietnam's steel exports to ASEAN countries have also increased. Among them, steel exports to Indonesia, Malaysia, Thailand and the Philippines increased by 53%, 13%, 1.3% and 17% respectively to 339,000 tons, 365,000 tons, 304,000 tons and 280,000 tons. Due to competitive prices, Vietnam's steel exports to European and American countries in the first half of this year, especially flat steel, also increased significantly.
Vietnam's steel imports in the first half of the year increased by 32% year-on-year to 7.09 million tons. Imports from China increased by 60% year-on-year to 3.64 million tons, but imports from India and Japan fell sharply year-on-year.
According to foreign media reports, rising steel prices in Vietnam prompted the Ministry of Finance to propose to lower the import tax on construction steel and impose a 5% tax rate on steel billet exports. The import tax rate for angle steel, die steel and special-shaped steel products is lowered from 15% to 10%, and the import tax rate for non-alloy flat-rolled products is lowered from 20%-25% to 15%.
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…
2021.06.15
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…
2021.06.03
TASS News Agency (TASS) quoted Russian First Deputy Prime Minister Andrei Belousov as saying on Wednesday that the country will decide whether to impose additional taxes on steel producers this year. Metal producers in Russia may face additional taxes of 100 billion rubles (US$1.4 billion) to the government. TASS quoted Belousov as saying that he…
