AsemconnectVietnam - In the first two months of this year, Vietnam’s imports and exports of iron and steel both saw decrease compared with the same period last year, according to the statistics figures of the General Department of Customs.

Vietnam’s exports of iron and steel in the first two months of 2020
In the first two months of 2020, Vietnam’s steel exports decreased by 4.7 per cent in volume and 16.1 per cent in turnover and 12 per cent in price over the same period of 2019.
According to the figures from the General Department of Customs, in February 2020, Vietnam's iron and steel exports to foreign markets increased by 43 per cent in volume, up 44.3 per cent in turnover and 1 per cent in price in comparison to January of 2020, reaching 690,675 tons, equivalent to 383.91 million USD, the average price reached 556 USD per ton. In comparison to February of 2019, it also increased by 50.5 per cent in volume and 32 per cent in turnover.

Generally in the first 2 months of 2020, the country’s steel exports decreased by 4.7 per cent in volume and 16.1 per cent in turnover and down 12 per cent in price over the same period in 2019, reaching 1.17 million tons, equivalent to to 648.81 million USD, with the price of 554.1 USD per ton.

Leading iron and steel export markets in the first two months of 2020
Vietnam's iron and steel exports to Cambodia reached 230,515 tons, equivalent to 124.43 million USD, accounting for over 19 per cent of the country's total iron and steel export turnover, down by 20.7 per cent in volume and decreased by 26.7 per cent in turnover over the same period last year. The export price to Cambodia decreased by 7.5 per cent to 544.1 USD per ton.
The exports to China reached 210,654 tons, equivalent to 87.37 million USD, with the price of 414.7 USD per ton, increased by 25.5 times in volume and 18.2 times in turnover, but down by 28.8 per cent in price.

Meanwhile, the exports to Indonesia reached 127,466 tons, equivalent to 75.37 million USD, with the price of 591.3 USD per ton, down by 20.5 per cent in volume and 28.9 per cent in turnover, down by 10.6 per cent in price.
In the first 2 months of 2020, the exports of iron and steel to most markets decreased both in volume and turnover compared to the same period last year; in which, the exports to the following markets dropped sharply: Saudi Arabia dropped by 91 per cent in volume and turnover, reaching 319 tons, equivalent to 0.21 million USD; Pakistan decreased by 79 per cent in volume and decreased by 76.4 per cent in turnover, to 4,671 tons, equivalent to 2.47 million USD; Italy decreased by 89.6 per cent in volume and 74.8 per cent in turnover, reaching 6,438 tons, equivalent to 8.01 million USD.

However, the exports to Singapore were only 29,795 tons, equivalent to 13.24 million USD, but compared with the same period last year, it increased sharply by 637.7 per cent in volume and 382.5 per cent in turnover; the export to Bangladesh also increased sharply by 279.2 per cent in volume and 243.4 per cent in turnover, reaching 819 tons, equivalent to 0.47 million USD; to Spain increased by 330.2 per cent in volume and 239.6 per cent in turnover, reaching 6,531 tons, equivalent to 4.91 million USD.

Vietnam’s imports of iron and steel in the first two months of 2020
In the first 2 months of 2020, Vietnam’s imports of iron and steel of all kinds decreased by 2.3 per cent in volume and by 13.2 per cent in turnover over the same period of 2019.
According to the statistics figures of the General Department of Customs, iron and steel imported to Vietnam in February of 2020 increased by 8.6 per cent in volume and by 7.6 per cent in turnover compared to January of 2020; up by 18.7 per cent in volume and 10.8 per cent in turnover compared to February of 2019, reaching 1.03 million tons, equivalent to 613.43 million USD.
Generally, in the first 2 months of 2020, the imports of iron and steel of all kinds decreased by 2.3 per cent in volume and 13.2 per cent in turnover over the same period of 2019, reaching 1.97 million tons, valued at over 1.18 billion USD.

The average iron and steel import price in February of 2020 reached 598.1 USD per ton, down by 0.9 per cent from the previous month and down by 6.6 per cent compared to February 2019. On average, in the first two months of 2020, the import price of iron and steel reached 600.6 USD per ton, down by 11.1 per cent over the same period of 2019.
Leading iron and steel import markets in the first two months of 2020
The iron and steel imports from China - the largest market, fell sharply by 50.6 per cent in volume, down by 49.6 per cent in turnover but increased by 2 per cent in price over the same period of 2019, reaching 412,324 tons, equivalent to 266.64 million USD, the average import price was at 646.7 USD per ton, accounting for 20.9 per cent of total iron and steel import of the whole country and accounting for 22.5 per cent of the total turnover.

Japan rank second in terms of iron and steel supplying to Vietnam. The country’s imports of iron and steel from Japan increased by 46.5 per cent in volume and 22 per cent in value, reaching 399,777 tons, equivalent to 234.22 million USD; however, the price decreased by 16.7 per cent, reaching an average of 585.9 USD per ton, accounting for over 20 per cent of the total volume and turnover.
The imports of petroleum from South Korea increased by 13 per cent in volume, 1.2 per cent in turnover but decreased by 10.5 per cent in price, reaching 295,333 tons, equivalent to 214.16 million USD, the average price reached 725.2 USD per ton, accounting for 15 per cent of the total import volume and 18 per cent of the total import turnover of iron and steel of the country.

In the first 2 months of 2020, the country’s imports of iron and steel from Turkey increased the most by 15.1 times in volume and by 10.3 times in turnover over the same period last year, reaching 892 tons, equivalent to 0, 62 million USD. Besides, the imports from Hong Kong also increased sharply by 846.7 per cent in volume and 313.4 per cent in turnover, reaching 284 tons, equivalent to 0.24 million USD; from Spain increased by 92.1 per cent in volume and 87.8 per cent in turnover, reaching 1,241 tons, equivalent to 0.98 million USD.
In contrast, the imports of iron and steel plummeted in the following markets: Finland - fell by over 92 per cent in both volume and turnover over the same period of 2019, reaching 17 tons, equivalent to 0.06 million USD; Brazil - decreased by 73 per cent in volume and 80.7 per cent in turnover, reaching 17,117 tons, equivalent to 6.8 million USD; Britain - decreased by 75.7 per cent in volume and 80.6 per cent in turnover, reaching 263 tons, equivalent to 0.18 million USD.
CK
Source: Asem/Vinanet.vn