Steel export posts strong increase in 2016
Export of steel products in the first eight months this year reached 1.77 million tonnes, an increase of 49% from the previous year, according to the Vietnam Steel Association (VSA).
During the period, the country produced 11.5 million tonnes, up 29% from earlier year and consumed 9.5 million tonnes, an increase of 29%.
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The price of construction steel went up in August and September, by VND150,000-VND300,000 per tonne, reaching VND9.5-VND9.9 million per tonne.
In the same period, 13.7 million tonnes of steel products were imported at a cost of US$5.15 billion, up 62.5% in volume and 15% in value. China accounted for 6.5 million tonnes or nearly 60% of the total imported steel volume.
