Crude steel production reached 6.692 million tons in the first quarter of 2023, a year-on-year decline of 20.9 per cent, according to the latest report from the Vietnam Steel Association (VSA).
Meanwhile, sales of crude steel were estimated at 6.068 million tons, down 25.4 per cent.
VSA figures also show that Vietnam exported 1.425 million tons of steel in the first two months of the year, earning over $1 billion, a year-on-year rise of 6.85 per cent in volume but a decline of 26.37 per cent in value.
Key export markets were ASEAN (37.31 per cent), the EU (20 per cent), India (9.34 per cent), Turkey (7.32 per cent), and the US (6.39 per cent).
The VSA reported that the construction steel price has continued falling on the back of lower global demand. The price fell by between VND100,000 and VND610,000 ($4.22 and $25.7) per ton on April 7 and then between VND150,000 and VND720,000 ($6.3 and $30.3) per ton on April 12. The current price is between VND15.02 million and VND16.88 million ($633 and $712) per ton (depending on product and brand).
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