Vietnamplus

As the domestic market has been heavily affected by the COVID-19 pandemic, many small steel enterprises experienced a sharp decline in profit in the third quarter of 2021.

Steel enterprises are seeking ways to boost exports as the sector’s growth is now mainly driven by export activities.

Consumption of steel in the first seven months of 2020 fell 9.6 percent year-on-year to 12.37 million tonnes, according to the Vietnam Steel Association (VSA).

Deputy Minister of Industry and Trade Do Thang Hai has asked the Vietnam Steel Corporation (VNSteel) to provide accurate market evaluations and forecasts to build the production and business plan.