Construction steel exports in August slowed down after three consecutive months of increase

Thus, construction steel exports have slowed down after three consecutive months of increase over the same period.

According to the Vietnam Steel Association (VSA) in August, construction steel exports reached 177,255 tons, down 8% compared to August 2021. Thus, construction steel exports have slowed down after three consecutive months of increase over the same period.

Accumulated in the first 8 months of the year, the country's construction steel exports reached 1.7 million tons, up 31.5% over the same period in 2021.

In which, the export output of construction steel of Hoa Phat Group recorded 990,000 tons, up 82% over the same period in 2021, accounting for 32% of the group's construction steel consumption and accounting for 58% of the total export of construction steel. build the whole country.

VSA said that most factories are in a difficult situation due to high price of difficult inventory. Distributors are currently looking to reduce inventories in the context of falling prices and low consumption demand from May to August. Factories are boosting exports to balance production plans in recent months.

In summary, in August, production of construction steel reached 979 thousand tons, down 7% compared to July but increasing 12% compared to July 2021. Sales of construction steel reached more than 1.1 million tons, up 16% over the previous month and up 63% over the same period in 2021.

Accumulated in the first 8 months of the year, construction steel production and sales together reached 8.7 million tons, up 11% and 31.5% respectively over the same period in 2021.

VSA believes that the price of raw materials has decreased continuously since the end of April, causing the market to slow down. Most factories face difficulties in production, business and finance. The level of competition between factories is fierce in terms of selling prices and encroaching on each other's market share.

According to VSA data, in the first eight months of the year, Hoa Phat's construction steel consumption reached 3.1 million tons, up 27% over the same period in 2021, accounting for 36% of the construction steel consumption market share, leading the whole world. branch.

Vietnambiz