Vietnam steel production reached 2.398mn mt in July, down by 6.48pc from June but up by 13.8pc from the prior year. Steel sales were similar to June at 2.101mn mt but rose by 7.4pc from July 2020.
- Steel exports in July increased to 658,207mt, up 5.96pc from June, and up by 55pc from July 2020.
In the Jan-July period, Vietnam’s steel production hit 18.326mn mt, up 3.5pc from the prior-year period. While sales increased to 1 6.161mn mt, up 30.7pc from the prior year.
Exports grew to 4.078mn mt, up by 78.9pc from the prior year period.
The overall economy in Vietnam is negatively impacted by the new variants of the COVID-19 pandemic. Industrial production in the country was subdued in July amid weak domestic demand. Low vaccination rates and strict containment policies have led many industries to shut operations despite strong demand for their products from export markets.