Iron and steel exports in 11 months reached 10.84 billion USD, up 130.5%

Specifically, in November 2021 alone, the export volume of iron and steel of all kinds was more than 1.1 million tons with a value of USD 1.16 billion, down 8.8% in volume and 6.1% in value. price compared to the previous month.

Accumulated in the first 11 months of 2021, the country's total export of iron and steel of all kinds is 12.2 million tons, worth 10.84 billion USD, up 36.8% in volume and strongly up 130.5% in value compared to the same period in 2020.

Regarding the export market in the past 11 months, all kinds of iron and steel exported by enterprises mainly to ASEAN markets reached 3.49 million tons, down 8%; to China reached 2.6 million tons, down 20.1%; to the EU reached 1.71 million tons, increasing 7 times; to the United States reached 916 thousand tons, up 5 times over the same period last year.

According to the forecast of the Vietnam Steel Association on the prospect of steel exports in the last month of the year, with increased consumption demand, especially a temporary shortage of steel supply in China, steel exports will grow well.

The steel industry outlook report of Vietcombank Securities Company also shows that China gradually reduces export output, causing shortages for partners that regularly import steel from this country. This opens up opportunities for surrounding countries to penetrate this market.

As for the European market, safeguard measures such as the application of quotas make it difficult for countries that are large exporters to Europe in a short time to increase output and demand spikes. This is an opportunity for Vietnamese steel enterprises to export to this market.

CafeLand