Machinery / Industrial Parts & Tools

Vietnam's "Financial Magazine Online" reported on May 11: Vietnam's steel imports from China accounted for 50% of Vietnam's total steel imports in the first quarter of 2021.

According to the report, according to Vietnam Customs statistics, in the first quarter of 2021, Vietnam imported 3.68 million tons of steel, worth 2.65 billion US dollars, and the average price was 719.7 US dollars per ton. The quantity, value and price increased by 11.2%, 32.2% and 18.9% year-on-year respectively. Among them, 1.88 million tons were imported from China, accounting for 50% of the total imports. The import value was US$1.27 billion, and the average price was US$675.2 per ton. The quantity, value and price increased significantly year-on-year, respectively 102%, 120.7% and 9%. .

According to reports, Japan is Vietnam's second largest steel import market after China. In the first quarter, Vietnam imported 509,000 tons of steel from Japan, valued at 369 million U.S. dollars, and the quantity and amount accounted for approximately 14% of Vietnam’s total imports. South Korea is the third largest import market, with an import volume of 398,000 tons and a value of 359 million U.S. dollars. The volume and value accounted for 10.8% and 13.6%, respectively.