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VietNamNews

Steel exports up 56% in seven months

Update: August, 21/2018 - 08:00
Steel export price increased by 11.3 per cent, reaching an average of $742.8 per tonne. — Photo cafef.vn
Viet Nam News

HÀ NỘI — In the first seven months of 2018, Việt Nam exported 3.41 million tonnes of steel, earning US$2.53 billion, increasing 40.4 per cent in volume and 56.3 per cent in turnover from the same period last year, according to the General Department of Việt Nam Customs.

Steel export price increased by 11.3 per cent, reaching an average of $742.8 per tonne. Of which, exports to Hong Kong reached the highest rate with $2,995.8 per tonne, up 33.4 per cent. Exports to Germany increased sharply by 53.5 per cent to reach $2,313.9 per tonne. Some markets also posted good prices such as Switzerland ($1,717 per tonne, up 302 per cent); Turkey ($1,595 per tonne, up 45 per cent); China ($1,503 per tonne, up 6.9 per cent) and Ukraine ($1,463 per tonne, up 53.6 per cent).

In contrast, exports to Taiwan has the lowest price of $556.7 per tonne, a year-on-year decrease of 14 per cent; prices to the Philippines, Pakistan, the Republic of Korea and Bangladesh were $573; $596; $637.9 and $640 per tonne, respectively.

Steel exports to Cambodia posted the highest portion, accounting for 37 per cent of the total steel export volume of the country. Exports to the US, Malaysia and Indonesia accounted for 15.6 per cent, 20.2 per cent and 19.2 per cent, respectively.

Exports to Cambodia increased by 49 per cent in volume and 77.9 per cent in value over the same period last year, reaching 717,572 tonnes, equivalent to $462.73 million. Exports to the US reached 532,779 million tonnes, earning $452.81 million, increasing sharply 71.6 per cent in volume and 81.7 per cent in turnover.

Exports to Malaysia increased by 88.5 per cent in volume and 108.6 per cent in value to reach 391,607 tonnes, or $266.98 million. Exports to Indonesia increased by 22.3 per cent in volume to 372,514 tonnes and 33 per cent in value to $295.33 million.

However, steel exports declined sharply in the following markets: Switzerland (reduced 99 per cent in volume and 96 per cent in turnover over the same period last year, reaching 39 tonnes, equivalent to $0.07 million); Saudi Arabia (down by 66.2 per cent in volume and 63.4 per cent in value, reaching 1,962 tonnes, or $1.37 million) and Pakistan (decreased by 56 per cent in volume and 45.6 per cent in value, to 15,958 tonnes, or $9.51 million). — VNS

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