AsemconnectVietnam - According to the figures released by the General Department of Customs, in the first ten months of this year, Vietnam’s exports of iron and steel increased sharply while the imports of iron and steel decreased slightly in quantity and increased in value year – on – year.

Exports of iron and steel totaled US$3.84 million
Vietnam’s exports of iron and steel of all kinds increased sharply by 38.2 per cent in quantity and 53 per cent in value year – on – year in the first ten months of this year to 5.24 million tons worth of US$3.84 billion, showed the statistics figures of the General Department of Customs.

In October only, the country’s exports of iron and steel reached 654,330 tons worth of $453.25 million, up by 13.6 per cent in quantity and 11.2 per cent in value compared with the previous month. The figure was up by 35.8 per cent in quantity and 39.9 per cent in value compared with the same month of 2017.
The average iron and steel price in the first ten months of this year increased by 10.7 per cent year – on – year to $731.6 per ton.

Cambodia was the country’s biggest iron and steel export market of Vietnam in the first ten months of this year with 1.1 million tons worth of $712.77 million, up by 51.8 per cent in quantity and 75 per cent in value over the same period last year and accounted for 21per cent of the total.

It was followed by the U.S with 814,973 tons worth of $694.11 million; Indonesia – 526,507 tons worth of $416.24 million, up by 9.3 per cent in quantity and 19.2 per cent in value; Malaysia – 526,412 tons worth of $363.87 million.

In the first ten months of this year, Vietnam’s exports of iron and steel to Egypt rocketed by 39.4 times in quantity and 18 times in value to 4,221 tons worth of $3.07 million; to Ukraine – up by 107.3per cent in quantity and 224 per cent in value to 143 tons worth of $209,106; to Japan – up by 291.4 per cent in quantity and 211.2 per cent in value to 85,889 tons worth of $62.8 million; to Bangladesh – up by 221.6 per cent in quantity and 171 per cent in value to 6,960 tons worth of $4.49 million; to Taiwan – up by 220 per cent in quantity and 164 per cent in value to 305,436 tons worth of $163.44 million.

However, the exports of iron and steel to Switzerland decreased by 98 per cent in quantity and 92 per cent in value to 66 tons worth of $141,475; to Brazil – down by over 55 per cent in quantity and in value to 2,173 tons worth of $2.08 million; to Spain – down by 40.5 per cent in quantity and 24.8 per cent in value to 42,163 tons worth of $31.9 million.

Imports of iron and steel totaled $8.36 billion
Vietnam imported 11.46 million tons of iron and steel worth of US$8.36 billion in the first ten months of this year, decreased by 9.8 per cent in quantity but up by 11.7 per cent in value compared with the same period last year, showed the preliminary statistics figures of the General Department of Customs.

In October only, the country imported 1.13 million tons worth of $852.88 million, up by over 8 per cent, both in quantity and in value compared with the previous month. The figure was down by 8.2 per cent in quantity but up by 7.7 per cent in value compared with the same period last year.
The average iron and steel import price was at $753.2 per ton in October and $729.2 per ton in the first ten months of this year, up by 23.9 per cent year – on – year.

China was the country’s biggest iron and steel import market in the first ten months of this year with 5.32 million tons worth of $3.83 billion, down by 13 per ent in quantity but up by 9.9 per cent in value compared with the same period last year, and accounted for 46 per cent of the total.
The imports of iron and steel from Japan in the first ten months of this year reached 1.86 million tons worth of $1.32 billion, up by 0.6 per cent in quantity and 18.3 per cent in value over the same period last year.


The imports of iron and steel from South Korea reached 1.45 million tons worth of $1.2 billion, up by 2.5 per cent in quantity and 19.6 per cent in value; from Taiwan – 1.23 million tons worth of $821.91 million, down by 8.4 per cent in quantity but up by 10.2 per cent in value.
In the first ten months of this year, Vietnam’s imports of iron and steel from Austria increased sharply by 195.6 per cent in quantity and 396.9 per cent in value to 1,410 tons worth of $9.48 million; from

Indonesia – up by 111.3 per cent in quantity and 355.4 per cent in value to 125,810 tons worth of $137.29 million; from Russia – up by 181.4 per cent in quantity and 231.9 per cent in value to 467,034 tons worth of $269.34 million; from Canada – up by 229.9 per cent in quantity and 216.8 per cent in value to 1,379 tons worth of $954,802; from Denmark – up by 113.7 per cent in quantity and 129 per cent in value to 857 tons worth of 673,063 million.

However, the imports of iron and steel from Poland decreased sharply by 84 per cent, both in quantity and in value year – on – year to 73 tons worth of $0.13 million; from Ukraine – down by 75.5 per cent in quantity and 67.3 per cent in value to 160 tons worth of $141,559; from South Africa – down by 56.8 per cent in quantity and 54.5 per cent in value to 2,674 tons worth of $4.49 million.
CK
Source: VITIC