For the month of November alone the country imported 1.1 million tonnes of steel worth US$728 million, with Chinese steel accounting for half of the import volume.
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In the 11 months period, domestic steel production has been estimated at US$2.7 million tonnes, a year-on-year rise of 1.8%. Around 4.73 million tonnes were sold in the domestic market while 378,500 tonnes have been stockpiled, up 27% against the same period last year.
Earlier, the Vietnam Steel Association announced the steel sector’s trade deficit has been steadily increasing over recent times as a result of Boron steel enjoying a tariff of zero.
