Vietnam Steel Industry Comprehensive Report

Vietnam Steel Industry Comprehensive Report

  • January 2020 •
  • 163 pages •
  • Report ID: 4945050 •
  • Format: PDF
VIETNAM STEEL INDUSTRY
The first 9 months of 2019 is a period of time when the steel market has many positive changes: the domestic steel price is up due to the fluctuation of raw material prices, but the steel market is very exciting due to the import demand. for the rising construction season.
Regarding construction steel, although the market has a relatively good growth in output, the production and business efficiency of enterprises has not increased accordingly. Construction steel consumption increased by 20.71% compared to the same period of 2018.
Regarding flat steel, 2018 was also a particularly difficult year for flat steel units. At present, 2 steel projects (Vietnam - China Steel Factory, Phase 2 Expansion Project of Thai Nguyen Iron and Steel Plant) are not yet overcome all difficulties, depending on the protection policy of steel billets of industry and trade sector. Ore consumption, especially currently, has a large capital imbalance.
Regarding steel trade, despite facing many export problems, Vietnam still increased by 23.45% in volume and 8.78% in value respectively. In the first 9 months of 2019, China was still Vietnam’s largest supplier, accounting for 40.95% of total steel imports.
2019 is a year the steel industry continues to face many difficulties. It is difficult because the protection trend in the world is still increasing, the US-China trade war has not ended, raw material prices continue to be unstable, which will have an impact on Vietnam’s steel industry.
However, the Vietnam Steel Association has a rather optimistic view with the steel industry. In 2019, Vietnam’s steel industry still has a chance to grow when the Government still targets high economic growth at 6.8-7%. After 3 years of shortfall in public investment disbursement, in 2019, the Government is determined to accelerate disbursement. When the disbursement situation gets better, new construction projects will increase and steel consumption will prosper ... Accordingly, in 2019, steel industry’s growth may still be at 10% .ng 3.92 million tons.