Exports and imports of iron and steel in the first four months of 2018
Tuesday, May 22,2018
AsemconnectVietnam - In the first four months of this year, Vietnam’s exports of iron and steel increased sharply while the imports of iron and steel saw decrease, according to the figures of the General Department of Customs.
Exports of iron and steel hit over US$ 1.4 billion
Vietnam’s exports of iron and steel in the first four months of this year increased sharply by 43.4 per cent in quantity and 61.4 per cent in value compared with the same period last year to 1.91 million tons worth of $ 1.41 billion, showed the statistics figures of the General Department of Customs.
In April, the country’s exports of iron and steel decreased by 7.2 per cent in quantity and 5.2 per cent in value compared with the previous month to 481,560 tons worth of $ 369.62 million. The figure was up by 63.3 per cent in quantity and 77 per cent in value year – on - year.
The average iron and steel price in the first four months of this year increased by 12.6 per cent compared with the same period last year to $ 737.3 per ton.
ASEAN countries were leading the list of the country’s export markets of iron and steel in the first four months of this year, accounted for 57 per cent of the total quantity and 53.4 per cent of the total value with 1.09 million tons worth of $ 750.91 million. Of the figure, the exports of iron and steel to Cambodia reached 374,095 tons, up by 43.8 per cent year – on – year.
The exports of iron and steel to the U.S reached $ 289,963 tons, up by 113.8 per cent; to Indonesia – 264,526 tons, up by 32.8 per cent.
In the first four months of this year, the country’s exports of iron and steel to Japan increased sharply by 11 times in quantity and 6 times in value to 37,168 tons worth of $ 26.93 million; to Italy – up by 984.8 per cent in quantity and 505 per cent in value to 31,567 tons worth of $ 29.92 million; to Belgium – up by 833 per cent in quantity and 564 per cent in value to 123,211 tons worth of $ 92.85 million; to Britain – up by 134.5 per cent in quantity and 142.5 per cent in value to 27,824 tons worth of $ 20.77 million.
However, the exports of iron and steel to Switzerland, Bangladesh, the Philippines, Pakistan and Brazil decreased by 99.6 per cent; 68.4 per cent; 66.2 per cent; 59.6 per cent; and 56.6 per cent in quantity compared with the same period last year.
Imports of iron and steel fell
In the first four months of this year, Vietnam’s imports of iron and steel decreased by 24.1 per cent in quantity and 6.2 per cent in value compared with the same period last year to 4.28 million tons worth of over US$ 3.03 billion, showed the statistics figures of the General Department of Customs.
The average import price of iron and steel in the first four months of this year was $ 707 per ton, up by 23.7 per cent compared with the same period last year.
In April only, the country imported 1.16 million tons of iron and steel worth of $ 844.28 million, up by 11.3 per cent in quantity and 13.3 per cent in value compared with the previous month. The figure was down by 19 per cent in quantity and 2.6 per cent in value. The average export price of iron and steel in April reached $ 725.2 per ton, up by 1.8 per cent month – on – month and by 20.4 per cent year – on – year.
China was the country’s biggest import market of iron and steel in the first four months of this year with 1.82 million tons worth of $ 1.32 billion, accounted for 42.6 per cent of the total quantity and 43.7 per cent of the total value. The figure was down by 33.9 per cent in quantity and 13.5 per cent in value year – on – year.
The imports of iron and steel from Japan reached 708,503 tons worth of $ 486.35 million, down by 7.7 per cent in quantity but up by 6.8 per cent in value compared with the same period last year.
The South Korean market accounted for 13.9 per cent of the total quantity and 15.6 per cent of the total value with 594,605 tons worth of $ 473.68 million, up by 8.2 per cent in quantity and 21.6 per cent in value.
In the first four months, the country’s imports of iron and steel from Demark rocketed by 25 times in quantity and 5 times in value to 541 tons worth of $ 372,243. And the imports from Hong Kong increased sharply by 491.8 per cent in quantity and 405.8 per cent in value to 1,799 tons worth of $ 1.54 million; from Australia – up by 141 per cent in quantity and 154 per cent in value to 15,359 tons worth of $ 7.78 million; from Brazil – up by 129 per cent in quantity and 156.6 per cent in value to 114,224 tons worth of $ 63.23 million.
However, the imports of iron and steel from India, Canada, Turkey, Britain, Mexico, South Africa, New Zealand decreased by 52 -64 per cent.
CK
Source: VITIC
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