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.