AsemconnectVietnam - In the first ten months of this year, Vietnam’s exports of iron and steel increased slightly in volume but decreased both in value and export price compared with the same period last year.

The country’s exports of iron and steel products in the first ten months of this year increased year – on – year.

Vietnam’s iron and steel exports in the first ten months of 2019
According to the statistics figures from the General Department of Customs, in the first 10 months of 2019, Vietnam's iron and steel exports increased by 2.9 per cent in volume but down by 8.9 per cent in turnover and down by 11.4 per cent in price over the same period of 2018, reaching 5.39 million tons, equivalent to 3.49 billion USD, with the average price of 648.2 USD per ton.
Particularly in October of 2019, the exports of iron and steel increased by 8.7 per cent in volume, 6.9 per cent in turnover but down by 1.7 per cent in price compared to the previous month, reaching 536,320 tons, equivalent to 337.97 million USD, with the price of 630.2 USD per ton. In comparison to October of 2018, it decreased by 18 per cent in volume, 25.4 per cent in turnover and 9 per cent in price.

Leading iron and steel export markets in the first ten months of 2019
Iron and steel of Vietnam was mainly exported to Southeast Asian countries, accounting for 63 per cent of the country's total iron and steel exports and accounting for 60 per cent of total turnover, reaching 3.4 million tons, equivalent to 2.09 billion USD. In particular, Cambodia ranks first among Southeast Asian countries in terms of Vietnam's iron and steel consumption, reaching 1.42 million tons, equivalent to 840.99 million USD, accounting for 41 per cent of the total export turnover of iron and steel, increased by 29 per cent in volume and 18 per cent in turnover over the same period last year.

The export price to Cambodia decreased by 8.5 per cent to 590.4 USD per ton. The exports of iron and steel to Malaysia reached 627,103 tons, equivalent to 391.32 million USD, with the price of 624 USD per ton, accounting for over 11 per cent of the total volume and total export turnover of iron and steel, up by 19.1 per cent in volume and 7.5 per cent in turnover, but down by 9.7 per cent in price over the same period last year; while the exports to Indonesia accounted for 13 per cent, reaching 696,873 tons, equivalent to 467.47 million USD, with the price of 670.8 USD per ton, up by 32.3 per cent in volume and 12.3 per cent in turnover, but down by 15.2 per cent in price. The exports to Thailand reached 318,733 tons, equivalent to 195.07 million USD, with the price of 612 USD per ton, accounting for over 9 per cent of the total volume and total export turnover of iron and steel to Southeast Asia, up by 10.2 per cent in volume and by 0.8 per cent in turnover, but decreasing by 8.5 per cent in price over the same period last year.

Behind the Southeast Asia market was the US market, accounting for 6.6 per cent of the country's total iron and steel exports and accounting for 8.2 per cent of the total turnover, reaching 353,846 tons, equivalent to 285.76 million USD, with the price of 807.6 USD per ton, dropped by 56.6 per cent in volume, 58.8 per cent in turnover and 5.2 per cent in price over the same period last year.

Exports to several markets in the first ten months of 2019
In the first 10 months of this year, iron and steel exports to most markets decreased both in volume and turnover compared to the same period last year. In particular, the exports to several markets fell sharply such as: to the UAE decreased by 62.6 per cent in volume and 74.7 per cent in turnover, reaching 6,324 tons, equivalent to 4.75 million USD; to Egypt - decreased by 64.8 per cent in volume and by 67 per cent in turnover, reaching 1,488 tons, equivalent to 1.02 million USD; to Bangladesh - decreased by 64.9 per cent in volume and 66 per cent in turnover, to 2,441 tons, equivalent to 1.53 million USD; to India - decreased by 64 per cent both in volume and turnover, reaching 67,514 tons, equivalent to 55.59 million USD.
However, the exports to China were only 192,903 tons, equivalent to 90.4 million USD, but compared with the same period last year, it increased sharply by 29.9 times in volume and 10.6 times in turnover. Meanwhile, the export to Brazil also increased sharply by 163.3 per cent in volume and 149.6 per cent in value, reaching 5,722 tons, equivalent to 5.2 million USD.

Vietnam’s exports of iron and steel products in the first ten months of 2019
After falling for two consecutive months, in October 2019, Vietnam’s exports of iron and steel products grew again by 10.8 per cent compared to September of 2019.
The figure brought the country’s total export turnover of iron and steel products in the first 10 months of 2019 to 2.77 billion USD, up by 12.2 per cent over the same period last year.
In the first 10 months of 2019, Vietnam's iron and steel products were mainly exported to the US market, accounting for 20.21 per cent of the proportion, reaching 561.73 million USD, up by 39.46 per cent over the same period last year. In October of 2019, the exports of iron and steel products to the US reached 64.72 million USD, up by 12.88 per cent compared to September of 2019 and up by 37.3 per cent compared to October of 2018.

Japanese market ranked second after the US, reaching 397.15 million USD, up by 12.64 per cent over the same period last year. In October of 2019 alone, the country’s exports of iron and steel to Japan reached 64.72 million USD, up by 17.09 per cent compared to the same period last year and up by 7.23 per cent compared to October of 2018.
The next were India, Thailand and South Korea. The exports of iron and steel products to India and Thailand were down by 0.69 per cent and 21.91 per cent to 164.39 million USD; 158.37 million USD respectively; while the exports to South Korea increased by 13.54 per cent to 148.10 million USD.
In addition to the four main markets mentioned above, Vietnam's iron and steel products are also exported to markets such as the Netherlands, Australia, Belgium and Indonesia.
In order not to be too dependent on traditional markets, in the first 10 months of this year, Vietnam had a number of new iron and steel export markets such as Brunei, Finland, Argentina, Bangladesh, Romania, etc.

Exports of iron and steel products to several markets increased
In general, in the first 10 months of 2019, the country’s exports of iron and steel products to almost all markets have grown. Accordingly, the exports to Sweden increased by 3.3 times (equivalent to 228.73 per cent) to 62.08 million USD, particularly in October of 2019, the country also exported to Sweden 2.02 million USD worth of iron and steel, down by 72.8 per cent compared to September of 2019 but increased by 2.5 times (equivalent to 154.66 per cent) compared to October of 2018. Meanwhile, the exports to Norway increased by 3.6 times (corresponding to 261.13 per cent) to reach 1.63 million USD, particularly in October of 2019 the figure reached 355,360 USD, up by 7.13 per cent compared to September of 2019 and increased 16 times (equivalent to 1551.77 per cent) compared to October of 2018.
In contrast, the exports to Saudi Arabia market plummeted by 49.73 per cent to only 6.5 million USD. Particularly in October of 2019, the country also exported to Saudi Arabia 781,020 USD worth of iron and steel products, up by 42.28 per cent over the previous month and by 27.09 per cent compared to October of 2018.
CK
Source: VITIC