Vietnam’s iron and steel exports rose to 1.02mn mt in April up by 17pc from March, according to customs data. Exports increased by 75pc compared to the prior year’s low base amid a recovery in steel demand.
China is the top buyer of Vietnamese steel. In April, Chinese imports rose to 320,908mt by 83pc from the prior year and up by 19pc from March. Exports to Cambodia, the second-largest importer of iron and steel from Vietnam dropped to 105,527mt, down by 30pc from March, while up by 15pc from a year ago.
|Vietnam’s iron and steel exports in April|
|Units: mt||Apr-21||Mar-21||% Change MoM||Apr-20||% Change YoY|
Large steelmakers in Vietnam including Hoa Phat, Ton Hoa Sen and Nam Kim have increased exports to China, Southeast Asia, US and EU markets as economies recover from the impact of the COVID-19 pandemic. From January to April, exports have steadily increased to 3.856mn mt, up by 48pc from 2.602mn mt in the prior-year period.