In April 2019, the country’s imports of iron and steel decreased by over 3 per cent in both quantity and turnover compared to March 2019 but increased by 11.6 per cent in volume and 2.9 per cent in turnover compared to the same month of last year, reaching 1.3 million tons, equivalent to 868.52 million USD.

The iron and steel import price in April of 2019 reached 66.8.6 USD per ton, up by 0.9 per cent compared to March of 2019 but down by 7.8 per cent compared to April of 2018. On average, in the first 4 months of this year, the iron and steel import price was at 670.3 USD per ton, down by 5.2 per cent year – on - year.

China has always been the leading market for supplying iron and steel to Vietnam, accounting for 41.9 per cent of the total volume and 39.1 per cent of the total iron and steel import value of the country, reaching 1.95 million tons, equivalent to 1.22 million USD, up by 7.3 per cent in volume, but down by 7.4 per cent in turnover over the same period last year. The import price of iron and steel averaged 625.7 USD per ton, down by 13.7 per cent.

In addition to the main market of China, Vietnam also imports a lot of iron and steel from several other markets such as Korea, Japan, Taiwan India; in which the imports of iron and steel from South Korea reached 545,745 tons, equivalent to 451.78 million USD, accounting for 11.7 per cent of the total volume and 14.4 per cent of the total turnover, down by 8.2 per cent in volume and 4.6 per cent on turnover over the same period last year. However, the import price increased by 3.9 per cent, reaching an average of 827.8 USD per ton.

The imports from Japan accounted for over 13 per cent of the total volume and total turnover, reaching 614,594 tons, equivalent to 424.94 million USD, down by 13 per cent in both quantity and turnover over the same period last year. The import price reached 690 USD per ton, slightly up by 0.5 per cent.

Meanwhile, the imports of iron and steel from Taiwan (CN) in April of 2019 increased strongly by 73.4 per cent in volume and 68.8 per cent in turnover compared to the previous month, reaching 212,094 tons, equivalent to 123.16 million USD. In the first four months of this year, the country’s imports of iron and steel from this market increased by 11.4 per cent in volume and 2.2 per cent in turnover over the same period last year, reaching 514,707 tons, equivalent to 305.61 million USD, accounting for 11 per cent of the total volume and for 9.8 per cent of total turnover.

In the first 4 months of this year, the most notable import of iron and steel was from Belgium, although the import volume was not high, only 7,690 tons, equivalent to 15.88 million USD, but compared to the first 4 months of 2018, the figure was up by 4.2 times in volume and 14.8 times in turnover; the import price from this market also increased strongly by 254 per cent over the same period last year, reaching 2,065 USD per ton.

In addition, the imports also increased strongly from several other markets such as Indonesia -also increased strongly by 280.8 per cent in volume and 671.4 per cent in turnover, reaching 71,339 tons, equivalent to 124.46 million USD; from Mexico - increased by 753.9 per cent in volume and 793.3 per cent in turnover, reaching 1,648 tons, equivalent to 1.35 million USD; from France - increased by 211.7 per cent in volume and by 567.4 per cent in turnover, reaching 801 tons, equivalent to 13.27 million USD; from Malaysia - increased by 14.8 times in volume and 6.1 times in value, reaching 166,016 tons, equivalent to 93.86 million USD.

In contrast, iron and steel imports plummeted in the following markets: Saudi Arabia - reduced by 99.7 per cent in volume and 97.9 per cent in turnover over the same period last year, reaching 83 tons, equivalent to 0.06 million USD; from Hong Kong - decreased by 95.8 per cent in volume and 83.9 per cent in turnover, reaching 75 tons, equivalent to 0.25 million USD; from Denmark - decreased by 99.4 per cent in volume and 79.2 per cent in turnover, to 41 tons, equivalent to 0.77 million USD.

Vietnam’s iron and steel imports in the first four months of 2019 – source: the General Department of Customs