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According to data from the General Department of Customs, iron and steel exports of all kinds in December 2023 increased sharply, reaching more than 1.08 million tons with a value of 707 million USD, an increase of 18.12% in volume and 13.81% in value compared to November 2023; increase 34.4% in volume and 27.7% in value compared to the same period in 2022.According to the Vietnam Steel Association (VSA), in December, construction steel and high-quality steel of all types recorded the highest consumption in the past 20 months. Exports of iron and steel of all kinds in December 2023 also increased sharply, reaching more than 1.08 million tons with a value of 707 million USD. For the whole year 2023, iron and steel exports of all kinds reached nearly 11.13 million tons with a value of 8.35 billion USD, +32.6% in volume and +4.5% in value compared to 2022.In December 2023, the top 10 largest import markets for Vietnamese flat steel were the United States accounting for 14.95%, Italy at 12.4%, Cambodia at 8.7%, Mexico at 7.8%, Malaysia at 6.3%, Indonesia at 5.2%, Colakoglu at 5%, Belgium at 4.9%, India at 4.9% and Spain at 4.1%.Conversely, Vietnam's imports of iron and steel in December 2023 reached 1.17 million tons with a value of 741 million USD, -22.1% in volume and -18.3% in value compared to the previous month; +22.7% in volume and +6.7% in value over the same period in 2022. For the whole year 2023, imports of iron and steel of all kinds will reach 13.3 million tons with a value of 10.43 billion USD, +14.1% in volume but -12.6% in value compared to 2022. One of the businesses with the most positive business results in December 2023 was Hoa Phat Group. HPG produced 648,000 tons of crude steel, an increase of 4% compared to November 2023. The consumption of hot rolled steel coils, construction steel and steel billets reached 760,000 tons, an increase of 7% compared to November and the highest in 2023. For export markets, Hoa Phat exported 113,000 tons of construction steel and high-quality steel to make wire rods and welding rod cores. Main export markets were Canada, Korea, Japan, Singapore, Australia, Sri Lanka,...In addition to high-quality steel, Hoa Phat also exported 103,000 tons of HRC in December 2023. HPG is the group with the largest crude steel capacity in Vietnam and Southeast Asia with 8.5 million tons/year, leading in construction steel market share and among the top 5 largest Vietnamese galvanized steel manufacturers.Entering 2024, Vietnam's steel industry is also recording many positive signs of recovery as both production and consumption show signs of strong growth. For the export market, recovering demand in the EU and US has a positive impact on export output and price of galvanized steel. Export steel prices are expected to increase by 9% in 2024.AG真人游戏 Steel is a provider of quality, convenient and time-saving Vietnamese steel import solutions. Our team of market analysis, marketing and supply experts provide the latest market and price reports to help importers clearly understand Vietnamese steel industry. If you have any questions or need to import Vietnamese steel, please contact AG真人游戏 Steel via Email: [email protected] or Hotline: +842836223358 for the most thoughtful support!

In November 2023, both production and consumption in Vietnam's steel industry experienced growth. Specifically, nationwide steel sales reached over 2.5 million tons, marking a 30% increase compared to the same period last year and reaching the highest level since the beginning of the year. Meanwhile, finished steel production reached 2.4 million tons, reflecting a 34.4% increase compared to the same period.The Vietnam Steel Association (VSA) reported an improvement in the consumption of finished steel in the domestic market in November compared to the previous month and the same period last year for most steel manufacturing and trading enterprises. In particular, sales of various steel types reached over 2.5 million tons, up 13% from the previous month and 30% compared to the same period in 2022. The growth in steel consumption has been consistent over several months, signaling a recovery for the steel industry. Meanwhile, the production of finished steel during this period amounted to 2.4 million tons, up 3% from October and 34.4% compared to the same period last year.In the first 11 months of the year, the steel industry produced 25 million tons of finished steel, down by 7.8% compared to the same period last year. Steel consumption reached 23.7 million tons, declining by 5.6% compared to the sales volume in the first 11 months of 2022. Specifically, steel exports during this period amounted to 7.4 million tons, marking a 29% increase compared to the same period.Hoa Phat, a leading enterprise in the steel industry, observed its highest sales volume since the beginning of the year. Specifically, sales of construction steel, hot-rolled coil (HRC) and steel billets reached 709,000 tons, marking a 12% increase from October. Notably, sales of high-quality construction steel by Hoa Phat during this period reached 410,000 tons, indicating a 21% surge compared to the same period last year.The company's representative stated that the domestic steel industry is on the rise due to the beginning of the construction season and is partly driven by policies encouraging the disbursement of public investment capital. According to the assessment by VSA, the sales volume of construction steel has increased, partly due to infrastructure projects such as the North-South expressway and the ongoing development of new airports, which have accelerated progress alongside several other projects.The steel industry has experienced significant price fluctuations in recent months, with steel companies continuously adjusting prices upward from November onwards. According to VSA, the consistent price hikes in steel are primarily due to the rising costs of raw materials used in steel production such as coal, iron ore, scrap steel and hot-rolled coils, showing no signs of slowing down.The selling prices of finished steel have been increasing at a slower pace compared to the rising costs of raw materials. This is one of the difficulties that the steel industry is facing.In the upcoming period, the price of this commodity is forecast to continue rising due to a narrow supply of iron ore, while construction demand is expected to increase. This will be an opportunity for the steel industry and steel stocks in 2024.