Vietnam’s steel import rises sharply in 5 months

Vietnam spent over 4.6 billion U.S. dollars importing more than 6 million tons of steel and iron in the first five months of this year, up 37.9 percent in value and 9.2 percent in volume against the same period last year, according to the country’s General Statistics Office on Wednesday.

China was the largest supplier, followed by Japan, South Korea and India, the office said.

In May alone, Vietnam imported 1 million tons of the products worth 913 million U.S. dollars, declining 5 percent in volume but up 43.6 percent in value year on year, according to the office.

In 2020, Vietnam spent nearly 8.1 billion U.S. dollars importing 13.4 million tons of steel and iron, down 15.2 percent in value and 8.2 percent in volume against 2019.
Source: Xinhua