Steel imports surpass US$6 billion
(VOV) - Vietnam has imported 9.9 million tonnes of steel valued at US$6.6 billion during the 11 months leading up to December, according to the latest statistics from the Ministry of Industry and Trade.
For the month of November alone the country imported 1.1 million tonnes of steel worth US$728 million, with Chinese steel accounting for half of the import volume.
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In the 11 months period, domestic steel production has been estimated at US$2.7 million tonnes, a year-on-year rise of 1.8%. Around 4.73 million tonnes were sold in the domestic market while 378,500 tonnes have been stockpiled, up 27% against the same period last year.
Earlier, the Vietnam Steel Association announced the steel sector’s trade deficit has been steadily increasing over recent times as a result of Boron steel enjoying a tariff of zero.