Vietnam’s steel imports value from China rise sharply in 2 months

Vietnam’s imports of Chinese steel rose sharply in value over the January-February period, according to Vietnam’s General Department of Customs.

China remained Vietnam’s largest steel supplier with a total of 1.53 million tons exported in the period, worth 786 million U.S. dollars, up 7.6 percent in volume and 61.8 percent in value year-on-year, reported local Tien Phong (Pioneer) newspaper on Monday.

South Korea rank second with some 304,000 tons of steel exported to Vietnam between January-February, worth 202 million U.S. dollars, rising 18 percent in volume and 57 percent in value year-on-year.

In the first two months of 2017, Vietnam spent a total of 1.49 billion U.S. dollars on importing 2.74 million tons of steel, up 0.2 percent in volume and 49.3 percent in value against the same period last year, said the department.

In 2016, Vietnam imported some 18.4 million tons of steel, worth 8.02 billion U.S. dollars, of which imports from China accounted for 10.9 million tons, worth over 4.5 billion U.S. dollars.


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