According to the preliminary statistics figures of the General Department of Customs, the exports of iron and steel to foreign markets in the first month of 2020 reached 483,161 tons, earning 266.08 million USD, down by over 26 per cent in both volume and in value compared to the last month of 2019, and also fell by 37.3 per cent in volume and 45 per cent in turnover compared to January of 2019.

The iron and steel export price in January of this year increased slightly by 1.1 per cent compared to December of 2019 but still down by 12.2 per cent compared to January of 2019, reaching an average of 550.7 USD per ton.

Cambodia was Vietnam's largest consumer of iron and steel, accounting for 22 per cent of the country's total iron and steel export turnover, reaching 105,534 tons, equivalent to 57.68 million USD, down by 22.7 per cent in volume and down by 20.9 per cent in turnover compared to the last month of 2019 and also decreased by 34.4 per cent and 39.4 per cent compared to the first month of 2019, respectively.

Iron and steel exported to China - the second largest market also decreased by 16 per cent in volume and turnover compared to the last month of 2019, but compared to January 2019, the price increased by 113 times in volume and increased by 48.7 times in turnover, reaching 113,757 tons, equivalent to 47.03 million USD, accounting for 23.5 per cent of the total volume and accounting for 17.7 per cent of the country's total iron and steel export turnover.

The exports to Malaysian market also dropped sharply by 21 per cent in volume and in turnover compared to the end of 2019 and fell by 3.5 per cent and 15.5 per cent respectively compared to January of 2019, reaching 54,285 tons, or 29.69 million USD, accounting for over 11 per cent of the total volume and total turnover.

In the first month of 2020, only 3 export markets of iron and steel saw increase both in volume and turnover compared to the same month last year, while the exports of iron and steel the other markets declined; of which, in addition to China, there are two export markets that saw increase: to Singapore increased by 18.7 times in volume and by 12.3 times in turnover, reaching 29,626 tons, equivalent to 12.99 million USD; to Bangladesh increased by 103.2 per cent in volume and 90.6 per cent in turnover, reaching 439 tons, equivalent to 0.26 million USD.

In contrast, exports to Italy, the US, the Philippines and Belgium fell sharply by 77-98% in both volume and turnover compared to January 2019.