Vietnam: Steel imports dip 5% to 12.19 mn t in CY'21

Steel imports by Vietnam aggregated to 12.19 mn t in CY'21, down 5% against 12.82 mn t in the same period last year. Monthly steel import volumes dropped to 0.8 mn t in Aug'21 after peaking to 1.43 mn t in Mar'21.

China, Japan, India, Korea leading exporters
Import volumes from China surged 28% to 4.80 mn t in CY'21 from 3.74 mn t seen in CY'20. Imports from Japan and South Korea fell 17% y-o-y to 1.89 mn t and 1.48 mn t respectively in CY'21.

On the other hand, imports from India fell sharply by 34% to 1.63 mn t in comparison to 2.48 mn t in CY'20.

Imports from Russia, Indonesia rise y-o-y
Steel imports from Russia surged 50% to 694,219 t in CY'21, from 463,360 t in CY'20. Vietnam imported 281,084 t of steel from Indonesia in CY'21, higher by 22% against 229,927 t in CY'20.

Starting Apr'21, Vietnam faced major outbreaks of the Delta variant in Hanoi and Ho Chi Minh City, leading to a major lockdown for these cities. As the outbreak spread to factories, strict control in the industrial areas eventually affected productivity and output. ASEAN-6 steel demand is forecasted to reach 77.2 mn t in CY'21 and that of Vietnam by 2.4%, as per data released by SEAISI.