Throughout the reviewed period, the output of crude steel, rolled steel, and steel bars enjoyed respective increases of 14.4%, 54%, and 1.6%.
This comes after several large local enterprises such as Hoa Phat, Ton Hoa Sen, and Nam Kim all exported major shipments to both the United States and EU markets.
A prime example of this stringent recovery can be seen in leading steel maker Hoa Phat Group who signed an export contract to ship over 2,000 tonnes of pre-stressed concrete steel strand (PC Strand) to the US market, with the shipment being delivered in March.
Furthermore, Hoa Phat Group also exported more than 22,000 tonnes of galvanised steel sheets to several markets within the EU and also the US.
Elsewhere, Hoa Sen Group Joint Stock Company exported high-value batches of galvanised steel sheet during the initial months of the year to the US, Mexico, Europe, and Southeast Asia with the local firm’s export volume exceeding 100,000 tons per month.
After recording positive signs in growth rate of production and sales of steel products last year, the Vietnamese steel industry has set a production growth target of between 4% and 6% for this year.
Moving forward, the domestic steel industry is anticipated to achieve a high-growth rate this year due to plenty of benefits from the acceleration of public investment and the recovery of the real estate market.