Vietnam's iron & steel exports hit US$2.53 billion in 7 months

SGGP
According to the Ministry of Industry and Trade, Vietnam exported 3.41 million tons of iron and steel in the first seven months with total turnover of US$2.53 billion, up 40.4 percent in quantity and 56.3 percent in value over the same period last year.

Vietnam's iron & steel exports hit US$2.53 billion in 7 months

Iron and steel were mainly exported to the Cambodian market, accounting for 37 percent of the total iron and steel export of the country; and the US (15.6 percent), Malaysia (20.2 percent), Indonesia (19.2 percent).
Although iron and steel exports are thriving, the sector is coping with trade defense lawsuits and anti-dumping lawsuits in overseas markets, such as Thailand, the EU, Canada, Malaysia, the US, the Eurasian Economic Union, and India.
Particularly, the US Department of Commerce (DOC) has announced the launch of an investigation into the avoidance of paying anti-dumping and anti-subsidy taxes on Vietnam’s corrosion-resistant steel and cold rolled steel from July 27-August 2.
As of June, Vietnam have been facing with 78 anti-dumping lawsuits, including 37 cases related to iron and steel.
The Vietnam Steel Association (VSA) has proposed the government to launch policies and solutions to protect domestic steel production.

By VAN DIEU – Translated by Kim Khanh

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