Viet Nam has transformed from a steel importing country to a producing nation, with the export of 300,000 tonnes of steel billets last year. This was revealed on Tuesday in a report of the Viet Nam Steel Association on the status of Viet Nam’s steel manufacture in 2017. According to the report, Vietnamese steel billets are mainly exported to markets in the Philippines and Indonesia, with the average prices ranging from USD 480 to USD 500 per tonne, depending on the period.
Besides billets, Viet Nam also exported more than one million tonne of construction steel in 2017, a year-on-year increase of 62 %.
The total steel consumption in the country in 2017 is estimated at nearly 18 million tonnes, up 20.7 % compared to the previous year.
Prior to this, VSA forecast the steel industry to grow by 12-15 % in the next five years. Of which, cast iron output is forecast to increase 80 % to reach 4.5 million tonnes, while steel billets will jump 47.2 % (11.5 million tonnes), finished steel products up 12 % (20 million tonnes), cold rolled coils up 13 % and steel pipes up 15 %.
Source : BIZHUB
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