China remains Vietnam’s largest steel and iron provider

China keeps its position as the leading exporter of iron and steel to Vietnam in the first four months this year, with 1.95 million tons worth US$1.22 million, accounting for about 42% in volume and nearly 40% of import value of these products.

Between January and April, the amount of imported iron and steel from the largest market of China went up by 7.3% in volume but dropped by 7.4% in value  over the same period, according to statistics from the General Department of Vietnam Customs.

Total steel and iron import of Vietnam in the four-month period reached 4.67 million of tons worth US$3.12 billion, up 9% in volume and 3.4% in value  year on year.

Particularly in April 2019, iron and steel import decreased by over 3% in both volume and value compared to the previous month but increased by 11.6% in volume and 2.9% in value year on year.

In terms of price, the price of imported steel and iron on this April was US$668.6 per ton, down 7.8% compared to April last year.

The second biggest of iron and steel provider to Vietnam in the period is South Korea with 545,745 tons worth US$451.78 million, making up 11.7% of total  import volume and 14.4% of total value.

Compared to last year, imports of this line from South Korea fell 8.2% in volume and 4.6% in value.

Japan is the third largest exporter of these metals to Vietnam, accounting for 13% in total volume and total value, with 614,594 tons worth US$424.94 million, down 13% in volume and value year on year.

Besides, Vietnam also imports steel and iron from Taiwan (China), Belgium, Indonesia, France, and Malaysia.

Accordingly, imports of these metals from Taiwan (China) over the past four months increased by 11.4$ in volume and 2.2% in value year on year, with 514,707 tons worth US$305.61 million, amounted to 11% in total volume and 9.8$ in total value.

Meanwhile, imports from Belgium  surged to 4.2 times in volume and 14.8 times in value year on year.

On the contrary, imports from Saudi Arabia, Hong Kong (China) and Denmark plummeted in both volume and value.