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Vietnam's iron and steel exports and imports in first 4 months of 2024 

 Tuesday, May 28,2024

AsemconnectVietnam - According to the calculations from the preliminary statistics figures of the General Department of Customs, in the first 4 months of 2024, iron and steel exports of all types reached over 4.34 million tonnes, earning over 3.22 billion USD.

Meanwhile, in the first 4 months of 2024, the country imported over 5.37 million tonnes of iron and steel, worth of nearly 3.89 billion USD.
Vietnam’s main iron and steel export markets in the first 4 months of 2024
The preliminary statistics figures of the General Department of Customs, in April of 2024 the country exported over 1.1 million tonnes of iron and steel, earning 835.14 million USD, with an average price of 752.9 USD/tonne, up by 0.9% in volume, up by 0.04% in turnover but down by 0.85% in price compared to March of 2024.
In the first 4 months of 2024, iron and steel exports of all kinds reached over 4.34 million tonnes, earning over 3.22 billion USD, the average price was 742 USD/tonne, up by 33.3% in volume, up by 27.7 % turnover but down by 4.2% in price compared to the first 4 months of 2023.
In the first 4 months of 2024, the US was the largest consumer market for Vietnam's iron and steel, accounting for 13% of the total volume and 15.4% of the country's total iron and steel export turnover, reaching 563,990 tonnes, equivalent to 496.38 million USD, the average price was 880 USD/tonne, up by 129.3% in volume, up by 156.6% in turnover and up by 11.9% in price compared to the same period last year.
The Italian market ranked second, accounting for 13.7% of the total volume and 11.7% of the total turnover, reaching 595,513 tonnes, equivalent to 375.92 million USD, the price was 631.3 USD/tonne, an increase of 23.3 % in volume, up by 7.3% in turnover but down by 13% in price compared to the first 4 months of 2023.
The next was the Belgian market, accounted for 7.6% of the total volume and 7.9% of the total turnover, reaching 328,782 tonnes, equivalent to 254.55 million USD, the price was 774.2 USD/tonne, an increase of 117% in volume, increased 89.9% in turnover but decreased 12.5% in price compared to the first 4 months of 2023.
In general, iron and steel exports in the first 4 months of 2024 to major markets increased both volume and turnover compared to the same period of 2023.
Vietnam's main iron and steel import markets in the first 4 months of 2024
According to the preliminary statistics figures of the General Department of Customs, in the first 4 months of 2024, the country imported over 5.37 million tonnes of iron and steel, worth nearly 3.89 billion USD, with an average price of 723.2 USD/tonne, increased sharply by 42.5% in volume and 22.9% in turnover but decreased by 13.8% in price compared to the first 4 months of 2023.
In April of 2024 alone, the country imported over 1.28 million tonnes of iron and steel, equivalent to nearly 958.37 million USD, the average price was 746.8 USD/tonne, down by 10.7% in volume, down by 8.3% in turnover but increased 2.8% in price compared to March of 2024.
The most iron and steel imported into Vietnam originated from China, with 3.67 million tonnes, equivalent to nearly 2.36 billion USD, priced at 641.7 USD/tonne, an increase of 78% in volume, an increase of 52.8% in turnover but down by 14% in price compared to the first 4 months of 2023; accounting for 68.3% of the total volume and 60.6% of the country's total iron and steel import turnover.
Behind the main market of China was the Japanese market with 551,458 tonnes, equivalent to 405.35 million USD, the import price wa 735 USD/tonne, down by 9.5% in volume, down by 13.8% in turnover and down by 4.7% in price compared to the first 4 months of 2023, accounting for over 10% of total volume and total turnover.
The next was the South Korean market with 382,977 tonnes, worth of 361.56 million USD, the price was 944 USD/tonne, up by 12.3% in volume, up by 3.9% in turnover but down by 7.5% in price compared to in the first 4 months of 2023, accounting for 7.1% of the total volume and 9.3% of the country's total iron and steel import turnover.
In general, iron and steel imports in the first 4 months of 2024 from most markets increased compared to the first 4 months of 2023.
CK
Source: VITIC

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