Vietnam Iron & Steel Exports Rise by 31% Y-o-Y during Jan-Aug’17

India’s steel imports from Vietnam increased multi-fold to 0.09 MnT during Jan-Aug’17.

Vietnam is one of the world’s emerging markets in terms of steel industry.According to Vietnam Steel Association (VSA) nation’s steel production would continue to grow as the total steel output for this year is anticipated to surge by 12 % Y-o-Y basis which will reach 19.6 MnT.

According to the latest customs data released, Vietnam iron and steel exports rose sharply by 10% M-o-M basis in Aug’17 to 0.44 MnT which was 0.40 MnT in Jul’17.

On yearly basis Vietnam exports surge by whooping 42% in Aug’17 against Aug’16.Nation has exported 0.31 MnT of flat steel in Aug’16.

During first eight months (Jan-Aug) of 2017,country’s iron & steel exports rose significantly by 31% to 2.87 MnT as compared to 2.19 MnT in similar time frame of previous year.

India’s steel imports from Vietnam increased sharply in CY17 – India imported 0.09 MnT iron & steel in Jan-Aug’17 compared to 0.01 MnT in the same time frame last year. As per sources, India generally imports PPGI & color coated goods from Vietnam as it has imposed anti dumping for color coated goods from China and EU.

Cambodia remain the preferred destination for Vietnam exports in Jan-Aug’17-During Jan-Aug’17 Cambodia remained the most preferable destination for exports from Vietnam.Cambodia has occupied the largest portion of share which is 20% followed by United States ,Indonesia,Philippines and South Korea.