December 02, 2008

Vietnam\'s steel imports up in first 8 months

Xinhua reported that Vietnam imported nearly 4.8 million tonnes of steel billets and finished products worth roughly USD 3 billion in the January to August 2007, up by 25.7% YoY and 54.9% YoY respectively.

According to the Vietnam's General Statistics Office between January and August, Vietnam imported nearly 1.4 million tonnes of steel billets, material for steel production valued at USD 645 million respectively up by 0.6% and 26. 6%. Import prices of steel billets reached highest ever level at USD 580 per ton in mid September up from USD 390 per tonnes on average in 2006,

Vietnam is predicted to import over 2 million tonnes of steel billets, produce 2.3 million tonnes of steel billets and consume some 4 million tonnes of construction steel in 2007. It imported over 5.6 million tonnes of steel billets and finished steel products totaling USD 2.9 billion mainly from China, Kazakhstan, South Korea, Malaysia, the Philippines and Singapore in 2006 up by 1.8% in volume but down 0.9% in value over 2005.