AG真人游戏

The steel industry in Vietnam has witnessed significant growth in exports to the US market, demonstrating its competitive ability and reliability on the international stage. In the first 7 months of 2024, the US was the largest export market for Vietnamese steel, with 1.11 million tons, generating a revenue of 923 million USD, a 91.3% increase from the previous year. This strong signal indicates the potential for expanded trade relations between the two countries in the near future.Vietnam's steel exports to the US soar, showcasing strong trade growth and future opportunitiesChallenges and opportunitiesDespite challenges such as anti-dumping investigations by the US International Trade Commission, Vietnam has not only maintained but also strengthened its position in the global market. This is thanks to the growth in exports of corrosion-resistant steel products and oil country tubular goods (OCTG), showcasing advanced production capabilities and technology. Specifically, the US imported over 11,000 tons of OCTG products in August 2024 and 565,400 tons of CORE products in the first eight months of the year.According to the US Department of Commerce, in August alone, Vietnam exported 139,800 tons of coated steel, nearly half of which 65,200 tons were hot-dip galvanized coil products, along with 38,100 tons of other metal-coated flat steel products.Forecasts and prospectsThe Vietnam Steel Association (VSA) predicts that domestic steel consumption will increase by 6.4% to nearly 21.6 million tons. At the same time, exports of finished and semi-finished steel products are expected to grow by 12%, reaching nearly 13 million tons, further strengthening Vietnam's position on the global steel map.This impressive growth is supported by significant expansion plans in the Vietnamese steel industry. By the end of 2025, Vietnam will add an annual production capacity of 6.5 million tons of crude steel. Vietnamese steel manufacturers will also continue to implement previously announced projects and plan new facilities.Vietnam's steel industry thrives amid challenges, driving export growth and expanding global presenceIn September 2024, the phase 2 project of the Hoa Phat Group鈥檚 integrated steel plant in Nong Quy, Quang Ngai province is expected to complete the installation of a hot strip mill with a capacity of 5.5 million tons per year. The mill can produce sheets ranging from 1.2-25.4mm in thickness and hot coils from 900-1650mm in width. Once installation is completed, the Hoa Phat Group will begin cold trials and machine calibration, with hot trials expected by the end of the year. The production facility will also be equipped with two 2,500m3 blast furnaces (2.5 to 2.8 million tons/year) and a steel conversion workshop, including two continuous slab casters (total capacity of 6 million tons/year). The trial operations will be carried out in two phases: the first phase will be completed in early Q1 2025 and the second phase equipment will start operating in Q4 2025.The strong increase in Vietnam's steel exports to the US not only reflects the superior production capacity and high adaptability of the Vietnamese steel industry but also proves the commitment and continuous efforts to expand the market and improve product quality. This clearly shows that Vietnam is not only a trade bridge but also a reliable steel production partner globally. If customers are interested in learning more about the export process and the import benefits of Vietnamese steel, please contact AG真人游戏 Steel via Email: [email protected] or Whatsapp: +84 769 112 358 for the best support.