Although the demand for building steel rose by more than 26% in May compared to the previous month, steel prices decreased for the 10th month, and steelmakers expected the struggle to continue.
Vietnam shipped some 335,000 tonnes of corrosion-resistant steel products (CORE) to the US last year, a three-fold rise from the previous year, according to the United States International Trade Commission (USITC).
Vietnam’s largest steel maker Hoa Phat Group said it has received export orders of 720,000 tonnes of construction steel in total for delivery between now and May.
Vietnam exported more than 5.7 million tonnes of steel products in the first nine months of 2021, a whopping 78.1 percent increase the same period last year, according to the Vietnam Steel Association (VSA).
Vietnam’s largest steelmaker Hoa Phat Group has said its steel exports in September doubled compared to the previous month, hitting a record high of nearly 50,000 tonnes.
The Ministry of Industry and Trade (MoIT) has decided to maintain the anti-dumping measure imposed on some H-shaped steel products from Malaysia since April 2021.
Iron and steel exports to the European Union (EU) reached 713,000 tonnes in the first five months of this year, up five times year-on-year, reported the General Department of Customs.
The Ministry of Industry and Trade (MoIT) has denied rumours that it proposed the establishment of a State stabilisation fund to cope with the sudden increase in steel prices that has impacted many businesses.
Steel exports in November surged 21.52 percent month on month and 40 percent year on year, reaching more than 478,300 tonnes, reported the Vietnam Steel Association (VSA).
After a gloomy period due to the COVID-19 pandemic, the construction materials market in HCM City started to flourish again in the third quarter as the peak construction season began and demand from some export markets recovered.
Vietnam exported over 400,000 tonnes of construction steel in the third quarter of 2020, increasing by 4 percent and 37 percent compared to the first and second quarters, respectively, according to the Vietnam Steel Association (VSA).
Steel maker Hoa Phat has signed a contract to sell 120,000 tonnes of steel billets, worth over 1 trillion VND (nearly 43 million USD), to China’s firm Hangzhou CIEC Group Co., Ltd.
Iron and steel exports to Germany saw significant increases in volume and value in the first quarter of this year, according to preliminary statistics from the General Department of Vietnam Customs.
The Vietnam Steel Association (VSA)’s member enterprises suffered a strong reduction in production and business in the first quarter of this year due to the COVID-19 pandemic.
Hoa Phat Group, the largest steel maker in the country, exported over 40,000 tonnes of construction steel in February, almost tripling that of the same period last year.
Thailand will impose anti-dumping tariffs ranging from 6.97 percent to 51.61 percent of cost, insurance and freight (CIF) prices on some imported steel products from Vietnam, the Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade said.
The US Department of Commerce (DOC) has announced preliminary rulings on the circumvention inquiries into Vietnamese cold-rolled steel (CRS) and corrosion-resistant steel (CORE) exports made from materials imported from Chinese Taiwan and the Republic of Korea (RoK).
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