Seven-month steel exports to US see upsurge

Italy represented the country's second largest buyer of iron and steel with 922,692 tonnes, down 12% on-year; while Cambodia ranked the third with 674,948 tonnes, up 2.9% on-year.

Within the ASEAN bloc, apart from Cambodia, the nation also exported iron and steel to five other markets, including Malaysia with 499,485 tonnes, up 3.2%; Indonesia with 356,492 tonnes, down 1.4%; Singapore with 157,214 tonnes, up 46%; the Philippines with 144,962 tonnes, down 3.2%; and Thailand with 103,843 tonnes, down 49.3%.

With regard to turnover, the country grossed US$923 million from iron and steel exports to the US, up 91.3% on-year, followed by Cambodia with US$427 million, down 6%; and Italy with US$578 million, down 23.9%.

Statistics indicate that Vietnam exported 8.05 million tonnnes of various types of steel by mid-August, up 19.7% against the same period from last year.

The average steel export price throughout the reviewed period fell by 5.6% on-year to US$732.9 per tonne, which in turn made total turnover reach US$5.9 billion, up only 13% on-year.