Vietnam's Steel Exports Surge in Q1 of 2021
Vietnam Investment Review reported that Vietnam’s exports of iron and steel reached over USD 1.8 billion in the first quarter of 2021, up sharply by 65.2 % YoY. Of these, the exports of crude steel and iron, as well as rolled steel increased by 14.4% and 54% while that of steel angles decreased by 1.6%. Taking advantage of the promising opportunity, leading steel-producers like Hoa Phat Group and Hoa Sen Group have begun exporting large batches to potential markets in Europe and the Americas over the past three months.
Particularly, Hoa Phat Group, the sole enterprise in Vietnam to produce prestressed steel cable, delivered a lot of more than 2,000 tonnes of this speciality steel to partners in the United States in March, pursuant to contracts signed previously. Previously, Hoa Phat shipped more than 12,000 tonnes of mainly cold galvanised steel products to the Americas in February 2021.