AsemconnectVietnam - In the first two months of this year, Vietnam’s exports of iron and steel increased sharply while the imports of iron and steel decreased.

However, the country still got big deficit in imports and exports of iron and steel in the first two months of this year. Concretely, in the first 2 months of this year, the country exported 1.23 million tons of iron and steel worth of 773.68 million USD and imported 2.02 million tons of iron and steel, worth of 1.36 billion USD.

Exports of iron and steel increased sharply in two months
In the first 2 months of 2019, Vietnam’s iron and steel exports increased strongly by 33.7 per cent in volume and 18.1 per cent in turnover over the same period last year to 1.23 million tons, equivalent to 773.68 million USD, showed the preliminary statistics figures of the General Department of Customs.
After a sharp increase in January 2019, iron and steel exports plummeted by 40.5 per cent in volume and 39.9 per cent in terms of turnover reached 458,867 tons, equivalent to USD 290.95 million exports in February of 2019. The figure also decreased by 3.7 per cent in volume and 13.5 per cent in turnover compared with the same period last year. The iron and steel export price in February increased slightly by 1.1 per cent compared to January 2019 but decreased by 10.3 per cent compared to February 2018, reaching 634.1 USD per ton.
Overall, in the first 2 months of 2019, the country’s iron and steel exports increased strongly by 33.7 per cent in volume and 18.1 per cent in turnover over the same period, reaching 1.23 million tons, equivalent to 773.68 million USD. The average export price decreased by 11.7 per cent over the same period, reaching 629.4 USD per ton.

Leading iron and steel export markets in first two months
Cambodia topped the export markets of Vietnam's iron and steel products, accounting for 23.7 per cent of the country's total iron and steel exports and accounting for 22.1 per cent of the total turnover, reaching 290,811 tons, equivalent to 171.02 million USD, up by 73.1 per cent in volume and 62.5 per cent in turnover over the same period last year.

Meanwhile, the exports to Indonesia - the second largest market reached 160,295 tons, equivalent to 105.95 million USD, up by 19.3 per cent in volume and 5.6 per cent in turnover, accounting for nearly 14 per cent of the total volume and total turnover.
Subsequently, the EU market accounted for over 9 per cent of the total volume and total iron and steel export turnover of the country, reaching 117,594 tons, equivalent to 70.53 million USD, up by 24.4 per cent in volume and 0, 7 per cent in turnover.

The exports to Malaysia increased by 1.7 per cent in volume but decreased by 4.4 per cent in turnover over the same period last year, reaching 116,355 tons, equivalent to 70.63 million USD, accounting for over 9 per cent of total volume and total turnover.
In general, in the first 2 months of this year, iron and steel exports to most markets increased compared to the same period last year; especially the exports to Saudi Arabia increased by 170 times in volume and 95.7 times in turnover, reaching 3,742 tons, equivalent to 2.47 million USD; to Pakistan increased by 20.4 times in volume and 15.8 times in volume, reaching 22,257 tons, equivalent to 10.47 million USD; to Egypt increased by 10.5 times in volume and 14.4 times in volume, reaching 1,292 tons, equivalent to 0.86 million USD.

In contrast, the iron and steel exports plummeted in some markets such as: to Spain decreased by 85 per cent in volume and 81.3 per cent in turnover over the same period, reached 1,518 tons, equivalent to 1.45 million USD; to U.A.E decreased by 1.7 per cent in volume and 63.5 per cent in turnover to 2,597 tons, equivalent to 1.69 million USD; to Myanmar decreased by 38.5 per cent in volume and 32.8 per cent in turnover, reaching 8,048 tons, equivalent to 5.89 million USD.

Iron and steel imports decreased in first 2 months
The average steel import price in the first 2 months of this year reached 675.6 USD per ton, up by 5.9 per cent compared to the first 2 months of 2018.
According to the preliminary statistics figures of the General Department of Customs, in the first 2 months of 2019, the whole country imported 2.02 million tons of iron and steel, worth of 1.36 billion USD, down 10.7 per cent in volume and 5.4 per cent in turnover compared to the first 2 months of 2018.
In February of 2019 only, 864,294 tons were imported, equivalent to 553.61 million USD, down by 25 per cent in volume and 30.8 per cent in turnover compared to January 2019. It decreased by 21.1 per cent in volume and 12.5 per cent in turnover compared to the same month last year.

The iron and steel import prices in February 2019 reached 640.5 USD per ton, down by 7.9 per cent compared to January 2019 but up by 11 per cent compared to February of 2018. On average, the first 2 months of this year reached 675.6 USD per ton, up by 5.9 per cent compared to the first 2 months of 2018.
Main iron and steel import markets in the first two months of 2019

Iron and steel imported from China accounted for 41.4 per cent of the total volume and 38.8 per cent of the total iron and steel import turnover of the country, reaching 834,700 tons, valued at 529.29 million USD, up by 15.5 per cent in quantity but slightly decreased by 0.7 per cent in turnover over the same period last year. The import prices fell by 14 per cent, reaching an average of 634.1 USD per ton. Particularly in February 2019, the imports of iron and steel from this market reached 307,730 tons worth of 181.71 million USD, down by 41.6 per cent in volume and 47.7 per cent in turnover compared to the previous month.

The price of iron and steel imported from Japan in February of 2019 also decreased by 14.7 per cent in volume and 6.9 per cent in turnover compared to January 2019, reaching 125,268 tons, equivalent to 91, 31 million USD. In the first 2 months of the year, Vietnam’s total imports of iron and steel from Japan reached 272,958 tons, worth of 191.94 million USD, accounting for 14 per cent of the total volume and total import value of iron and steel of the country. The figure was also down by 46.4 per cent in volume and 13.2 per cent in turnover over the same period last year; the import price increased by 62 per cent, averaging 703.2 USD per ton.

The imports of iron and steel from South Korea in the first 2 months of the year reached 261,282 tons, equivalent to 211.71 million USD, accounting for 12.9 per cent of the total volume and 15.5 per cent of the total turnover. The figure was down by 16.1 per cent in volume and 14 per cent in turnover year – on - year. The import price increased slightly by 2.4 per cent to 810.3 USD per ton.
Iron and steel imported from Taiwan market decreased in price, quantity and turnover with 180,846 tons, worth of 109.7 million USD and the price of 607.8 USD per ton, down by 32.5 per cent, 34.4 per cent and 2.8 per cent respectively.

The growth and decrease in iron and steel imports from several markets
In general, in the first 2 months of this year, the country’s imports of iron and steel from most markets increased their turnover compared to the first 2 months of 2018. Especially, the imports of iron and steel from Mexico reached only 959 tons, equivalent to 0.82 million USD, but increased by 8.7 times in volume and 16.3 times increase in turnover compared to the same period last year.

Besides, imports of iron and steel also increased sharply from the following markets: from Indonesia increased by 267.2 per cent in volume and 986 per cent in turnover, reaching 24,439 tons, equivalent to 44.65 million USD; from Belgium increased by 473.5 per cent in volume and by 485.5 per cent in value, reaching 3,636 tons, equivalent to 2.32 million USD; from Sweden increased by 222.8 per cent in volume and 339.6 per cent in value, reaching 1,288 tons, equivalent to 5.13 million USD; from France increased by 100 per cent in volume and 285.9 per cent in value, reaching 190 tons, equivalent to 6.15 million USD.
However, iron and steel imports plummeted from the following markets: from Saudi Arabia reduced by 96.3 per cent in volume and 94.2 per cent in turnover over the same period last year, reaching 47 tons, equivalent to 0.03 million USD; from Denmark reduced by 94.8 per cent in volume and 82.3 per cent in turnover, reaching 27 tons, equivalent to 52,328 USD.
CK
Source: VITIC