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).
Construction steel exports soar in Q3 (Photo: VNA)
Hanoi (VNA) – 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).
Notably, the export volume of hotrolled steel reached over 270,000 tonnes, rising by over 330 percent from thefirst quarter.
Asmany as 2.7 million tonnes of constructionsteel were sold in the reviewed period, up 19 percent and 6 percent against thefirst and second quarters, despite a drop in output, VSA said.
Other products such as hot and cold rolled steel, galvanizedand colour-coated steel sheets, and steel pipes all recorded stable growthsin both sales and exports.
Steel output in the first three quarters of the year down 1.7 percent year onyear to 18.5 million tonnes. Meanwhile, steel sales in the period reached 16.5million tonnes, a decrease of 4.3 percent year on year, including over 3.2million tonnes exported, down 8.6 percent.
Vietnam spent 5.43 billion USD on importing 9.35 million tonnes of steel in thefirst eight months of the year, down 13 percent in value and 3 percent involume compared to the same period last year.
In the period, ASEAN and China remained the key export markets of Vietnamesesteel products, with export turnovers hitting 1.44 billion USD and 844 millionUSD, respectively.
According to the Ministry of Industry and Trade, the construction steel salesare predicted to recover in the remaining months of 2020 after a fall in theJanuary-August period due to impacts from the COVID-19 pandemic./.
In the second half of this year, increasing competition in product quality, prices and market share are predicted to force steel companies to work harder to maintain their foothold in the market.
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Construction steel exports soar in Q3 (Photo: VNA) 
