Steel exports total $910 million in 11 months

Steel makers in Vietnam earned US$910 million from exports in the first eleven months of the year, an increase of 179 percent in value and 20 times in volume over the same period last year, said the Vietnam Steel Association (VSA) on December 1.

Vietnam exported 650,000 tons of cold rolling steel, an increase of 919 percent, and 140,000 tons of construction steel products, an increase of 138 percent.

According to VSA, this year’s domestic steel production is forecasted to be 8.7 million tons, an increase of 26 percent on last year.

VAS also estimated that 1.3 million tons of steel would be exported this year.

The amount of steel import is forecasted to reach 1.8 million tons this year, a decrease of 15 percent against last year, said VSA.

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