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Vietnam' s steel exports in the first seven months of the year surged 56% year-on-year

Vietnam' s steel exports in the first seven months of the year surged 56% year-on-year
Issue Time:2018-08-27

Vietnam's steel export prices rose by 11.3%, and the averageprice reached $742.8 per ton. Vietnam's customs statistics show that in thefirst seven months of this year, Vietnam's steel exports reached 3.41 milliontons, worth about 2.53 billion US dollars, up 40.4% and 56.3% year-on-yearrespectively.

At the same time, Vietnam's steel export prices also rose by11.3% year-on-year, with an average price of $742.8 per ton. Among them, theprice of exports to Hong Kong was the highest, reaching 2995.8 US dollars perton, up 33.4% year-on-year; the price of exports to Germany increased the most,reaching 2313.9 US dollars per ton, up 53.5% year-on-year. The price of thecountry's exports to other markets is not unusual. For example, the price ofsteel exported to Switzerland has increased by 302% year-on-year to US$1717 perton, and the price of steel exported to Turkey has increased by 45% to US$1,595per ton. The price rose by 6.9% to $1,503 per ton, and the price of exports toUkraine rose by 53.6% year-on-year to reach $1,463 per ton.

In terms of export volume, exports to Cambodia accounted forthe largest proportion, accounting for 37% of the total Vietnamese steelexports. Its exports to the United States, Malaysia and Indonesia accounted for15.6%, 20.2% and 19.2% respectively. In the firstseven months of this year, Vietnam’s exports to Cambodia increased by 49% and77.9% year-on-year in terms of quantity and amount, reaching 7,17,752 tons,equivalent to $463 million. The amount of steel exported to the United Statesreached 533,000 tons, valued at 453 million US dollars. The quantity and amountincreased by 71.6% and 81.7% respectively, which is more obvious.

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