Vietnam’s total steel import turnover surged to seven billion USD in the first six months of this year, according to the Ministry of Industry and Trade.

Statistics from the ministry show that in the reviewed period, steel import increased over 36 percent in volume and 10 percent in value.

China remained Vietnamese biggest steel exporter.

In June, steel imports jumped 205.3 percent in volume and 94.4 percent in value.

Experts have warned that rising demand for steel imports will not only impact domestic manufacturing businesses but is also an indication of a “bubble” phenomenon in the domestic real estate market which the country has previously experienced.-VNA