Large number of steel imported in 2015

A large number of steel totally worth US 9 billion was imported in 2015, announced the Vietnam Steel Association (VSA) yesterday.

Of the amount, the rate of made-in- China steel is 52 percent. In 2015, Vietnam bought 19.83 million tons of finished and semi-finished steel products, equivalent to US$9 billion, an increase of 27.24 percent compared to 2014.

Though the country’s export steel value reached US$2.46 billion, the value decreased by 14 percent compared to 2014 and the country’s major steel markets were Asian countries with over 75 percent.

VSA said that nearly 551,000 tons of steels were consumed in the country in January 2016, a surge of 36.6 percent compared to same period last year.

Local steel manufacturers said that prices of steel materials and billets are on upward trend after plummeting for a long time. Compared to December 2015, prices of steel material hiked by US$10-15 per tons and steel billet went up by SU$10 a tons.

By P. Duy - Translated by Anh Quan

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