AsemconnectVietnam - According to statistics from Vietnam Steel Association (VSA), Vietnam's production of finished steel was 2.46 million tonne in June, increasing by 22.4% compared to the same month a year ago.

In the first half year, Vietnam's steel output was roughly 14.43 million tonnes, a year-on-year increase of 10.1%, and the sales grew by 14.4% year on year to 14.27 million tonnes.
Steel sales increase in H1 y-o-y
Meanwhile, the steel products sales totaled approximately 2.36 million tonnes in June, a month-on-month decrease of 7.53% but a year-on-year increase of 9.3%.
Steel imports decline in Jun m-o-m
According to Vietnam's customs, the country's steel imports fell in June after a rebound in May, with exports also experiencing a decline. However, scrap imports saw a significant increase after three consecutive months of decline.
Vietnam imported 1.28 million tonnes of steel in June, a 17% decrease from the previous month. Imports from China and Japan, the two largest suppliers, totaled about 935,000 tonnes and 137,000 tonnes, respectively, marking month-on-month decreases of 15.1% and 25.7%. For the first half of the year, total imports reached 8.23 million tonnes, a 48% increase year-on-year.
Scrap steel imports in June surged by 54.1% month-on-month to nearly 456,000 tonnes, more than doubling year-on-year. In the first half of the year, scrap imports totaled 2.44 million tonnes, a 4.3% increase year-on-year.
Vietnam imported over 8.22 million tons of steel products during the six-month periods, worth over $5.96 billion, up 48% in volume and 25.4% in value. Imports from China accounted for over 70%. The imports of steel kept increasing although domestic steel producers are capable of meeting local consumption demand.
Vietnamese steel enterprises are also facing trade barriers from import markets to protect their local producers such as Thailand levying a tax rate of 310.74% on imported Vietnamese steel products, Malaysia 7.81-23.8%; Turkey 19.64-25% and the US 16.24%.
Exports decline in Jun m-o-m
Vietnam exported 6.493 million tons of steel products in the first six months of the year, earning more than VND4.77 trillion ($187 million), according to the General Department of Vietnam Customs.The figure represents an increase of 20.5% in volume and a 12.2-fold rise in value compared to the same period last year.
Vietnam has exported steel products to more than 30 markets in the world.
However, local steel producers are facing increasing steel imports, affecting their production and trade.
Experts said in order to help local steel enterprises to overcome difficulties and maintain domestic market, it is necessary to take measures to promote exports and domestic consumption and improve their production capacity. State support is also needed to protect the domestic market against the increasing steel import wave into the country.
Hoa Phat & Cambodia's Chip Mong Group sign MoU to export construction steel to Cambodia
Vietnam's Hoa Phat and Cambodia's Chip Mong Group signed a memorandum of understanding (MoU) on June 28, 2024, aimed at exporting construction steel to Cambodia. The agreement spans from July 1, 2024, to December 31, 2024.
Hoa Phat has exported steel to nearly 40 countries across five continents and is committed to supplying construction steel products to meet Cambodia's market demand. Beyond steel, the agreement is seen as a platform for collaboration where both companies can leverage their strengths. Hoa Phat looks forward to offering its products through Chip Mong's retail network in Cambodia's commercial centers.
AD investigation on galvanized steel products from China & South Korea
On June 14, 2024, the Ministry of Industry and Trade of Vietnam announced that it had launched an anti-dumping (AD) investigation on galvanized steel products originating from China and South Korea in response to the application submitted by domestic companies, Hoa Sen Group, Nam Kim Steel Joint Stock Company, Southern Steel Sheet Co. Ltd., Dong A Steel Corporation, and China Steel and Nippon Steel Vietnam Joint Stock Company. The investigation period is from April 1, 2023, to March 31, 2024. The damage investigation period is from April 1, 2018, to March 31, 2024.
The HS code for subject products are 7210.41.11, 7210.41.12, 7210.41.19, 7210.49.11,7210.49.14, 7210.49.15, 7210.49.16, 7210.49.17, 7210.49.18, 7210.49.19,7210.50.00, 7210.61.11, 7210.61.12, 7210.61.19, 7210.69.11, 7210.69.12, 7210.69.19, 7210.90.10, 7210.90.90, 7212.30.11, 7212.30.12, 7212.30.13, 7212.30.14, 7212.30.19, 7212.30.90, 7212.50.13, 72 12.50.14, 7212.50.19, 7212.50.23, 7212.50.24, 7212.50.29, 7212.50.93, 7212.50.94, 7212.50.99, 7212.60.11, 7212.60.12, 7212.60.19, 7212.60.91, 7212.60.99 , 7225.92.90, 7226.99.11 and 7226.99.91
T.Huong
Source: Vitic