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According to a report by the World Steel Association in June 2023, crude steel production in 63 countries reached 158.8 million tons, down 0.1% compared to June 2022. In the context of China's struggling construction sector and the possibility of economic recession in the US and Europe, India is now an essential factor in recovering global steel demand.In June 2023, Africa produced 1.3 million tons of crude steel, an increase of 11.5% compared to June 2022. Countries in Asia and Oceania produced 119.7 million tons, up 0.8%. The EU produced 10.6 million tons, down 11.1%. Other European countries produced 3.7 million tons, down 1.8%. Particularly in the Middle East market, in June 2023, production was 4.2 million tons, up 9.4%. In the North American market in June, production was 9.2 million tons, down 0.5%. Russia, the CIS countries, and Ukraine produced 6.8 million tons, up 5.2%. South American countries reduced production by 12.4% when they only produced 3.3 million tons of crude steel.The World Steel Association has also listed the top 10 countries with the most significant crude steel production in the first six months of 2023: China is the world's largest steel producer, with 91.1 million tons, up 0.4% compared to June 2022. India is emerging as a new steel power with 11.2 million tons, an increase of 12.9% compared to June 2022. The third place belongs to Japan, which produced 7.3 million tons, down 1.7%. US production of 6.8 million tons increased by 0.5% compared to 2022. Russia is also one of the significant crude steel producers in the world; it is estimated to have produced 5.8 million tons, up 3.8%. Korea produced 5.5 million tons, down 0.9%. Germany produced 2.9 million tons, down 8.4%. Iran has the most robust steel production increase, which increased by 17.4% compared to June 2022, with an output of 3.2 million tons. In contrast, Brazil was the country with the most significant decrease in crude steel production in June 2023, when it decreased by 12.5% to only 2.6 million tons. Turkey is the last country on the list of the top 10 countries with the world's most significant crude steel production, producing 2.9 million tons, down 1.5%.In the Vietnamese market, finished steel production in June 2023 reached 2.012 million tons, down 9.52% compared to May 2023 and down 16.2% over the same period in 2022. Particularly for Hoa Phat Group, in June 2023, it produced 520,000 tons of crude steel, down 23% compared to the same period in 2022. Hot-rolled coil products, which are the strength of Hoa Phat Dung Quat Iron and Steel Production Complex, produced 251,000 tons of hot-rolled coil in June 2023, up 24% over the same period last year and hitting the highest level since November 2022.

In the second quarter of 2023, VNSteel lost VND 255 billion, along with the net revenue decreased by 29% compared to the same period last year. Besides, the company also recorded a loss of 324 billion dongs from associated companies in the steel industry.The VNSteel's report has made many investors disillusionedAccording to the report data, VNSteel's net revenue reached 6,754 billion VND, and it decreased 29% over the same period. After deducting the cost price, gross profit was only 94 billion VND and decreased sharply by 57% compared to the previous second quarter. Total net revenue of the first 6 months in 2023 reached 15,097 billion VND, down 31 % compared to the first 6 months in 2022. Similarly, the gross profit index showed negative signals when it reached VND 480 billion in 6 months and decreased by 25% over the same period.Although the revenue in the second quarter was a step down compared to last year, there were still some bright spots in the company's business. Financial revenue in this period increased by 15% compared to last year. Besides, financial and selling expenses were also reduced by 11% and 55%, respectively, compared to the previous quarter.Efforts to cut costs and boost financial activities have not been enough to improve business results. VNSteel's profit after tax in the second quarter of 2023 lost 284 billion and fell sharply by 57% compared to the second quarter of 2022. This result surprised many investors when just 3 weeks ago VNSteel had reported a pre-tax profit of the holding company of more than 133 billion dongs.Steel price fluctuations are the direct cause of VNSteel's difficultiesVNSteel evaluates that the domestic steel market has many challenges. Although the worst time has passed, the domestic demand is gloomy, and the export situation has not made many strong impressions, which has affected the Vietnamese steel enterprises.Since the beginning of the year, the domestic market has experienced 19 corrections in construction steel prices. Specifically, in the first quarter, there were price increases, but from the beginning of the second quarter onwards, the price of construction steel has adjusted 13 consecutive declines. The average price of all steel products in the past 6 months fell sharply from 13.9 to 37% over the same period.Steel consumption is also not very optimistic when finished steel decreased by 30% over the same period, long-rolled steel decreased by 33%, and cold-rolled coil decreased by 24%. In the first 6 months of the year, total sales volume only achieved 38% of the previous strategy. The weak domestic demand and the international steel demand have uncertainties leading to the narrowing of export scope.Outlook for steel industry recovery from the government's supportive policiesAlthough the steel market is still facing many difficulties; However, the period from now to the end of the year is predicted to have many outstanding highlights from the government's supportive policies in the real estate and construction sectors.The National Assembly has approved an economic recovery support package worth 355,000 billion VND, of which nearly 50% of the package value will be spent on infrastructure development such as Long Thanh airport, North鈥揝outh Expressway East, and logistics ports,... The promoting constructive stages is expected to increase the steel consumption demand.In addition, the government approved the project 鈥業nvesting in building at least 1 million social housing apartments鈥� earlier this year. The implementation of housing construction projects is considered a breakthrough to help revive domestic steel enterprises to solve the problems in consumption demand.It can be seen that the current situation of the steel market is still under pressure, but with a series of economic stimulus policies of the government, the domestic steel industry is expected to prosper gradually in the near future. 

Recently, Nam Kim Group announced its latest financial report for the second quarter of 2023. Accordingly, the profit after tax in the first 6 months of the year reached 76,2 billion dong. This is also the first quarter of profit after losing business in the previous quarters.In the second quarter of 2023, Nam Kim Group recorded net revenue of 5,499 billion dong, down 23.6% year-on-year. The cost of goods sold also decreased by 20.6% to 5,004 billion dong, so gross profit decreased by 44.5% to 496 billion dong.Financial revenue for Nam Kim Group decreased by 53.7% to 50,5 billion dong. The company's expenses in the last quarter also decreased, in which selling expenses decreased by 60% to 214 billion dong.Nam Kim's leadership also said that 2023 would be a year of many challenges and not really favorable for growth when domestic market demand is still weak. Countries also strengthen trade protectionist policies to protect the production sources of domestic enterprises, negatively affecting Nam Kim Group's export activities. However, the most difficult period has passed when the business activities of enterprises have had a positive trend.In the second quarter of 2023, Nam Kim's profit after tax reached 125,4 billion dong, down 38% over the same period last year. This is also the first quarter to be profitable again after reporting losses in previous quarters. In terms of business orientation in 2023, Nam Kim Group sets a business target of 20,000 billion dongs in revenue and an expected profit before tax of 400 billion dongs. Thus, at the end of the year's first half, with what has been achieved, Nam Kim Group has completed 49% of the revenue target of 9,874 billion dong and 29% of the year's profit target of 76,2 billion dong. If this result remains unchanged, Nam Kim shares may be traded on margin again in the near future.Nam Kim Group will also optimize the capacity of production lines to increase capacity to 1,2 million tons per year, thereby increasing productivity, reducing production costs per product unit, and increasing capacity enterprise competition.By the end of the second quarter, Nam Kim's total assets reached 12,179 billion dongs, down 9.5% over the same period last year. The company has 950 billion dongs in cash and 134.5 billion in cash equivalents. At the end of the period, financial investment reached 396 billion dongs, investment in trading securities alone reached 120 billion dongs, almost all of which were bonds, and more than 9 billion dongs were invested in 1,174 BID shares.In addition, Nam Kim Group also had 1,885.6 billion dongs of short-term receivables, up 24%. Inventories have decreased by 25.3 billion dongs to 5,385 billion dongs, and Nam Kim has set aside 156.4 billion dongs to reduce inventory prices.On the stock market, after the trading session on July 28 closed, Nam Kim Group shares increased by 0.76% to 19,800 VND/stock, and trading volume reached more than 8,5 million units. 

The Pomina Steel Board of Directors recently announced the decision to sell nearly 70.2 million shares, equivalent to 20% of the Pomina stake to Nansei Steel Japan. Accordingly, the price per share is listed at 10,000 VND (0,42$) and is about 35% higher than the market price. Overview of the dealing Pomina stake eventOn July 14, the  General Meeting of Pomina Steel Shareholders said that the stock issuance process would be divided into two rounds; the first round will take place in August with more than 10.6 million shares, and the remaining shares will be completed in September 2024. However, the Japanese partner will not be allowed to transfer shares for the first 3 years since the transaction started.Nansei Steel is a steel manufacturer and exporter based in Chiba, Japan, this business has just been established in Vietnam for half a year. Answering the news conference, Mr. Inafuku Makoto said that the company has had the opportunity to cooperate with Pomina steel company since 9 years ago. The result of this cooperation is the transfer of a 20% Pomina stake with a value equivalent to 20 million USD.Mr. Inafuku Makoto stated at the general meeting of shareholdersCurrently, Pomina only has one major shareholder Vietnam Steel Production and Trading Co Ltd with an ownership rate of more than 53.3% of the capital, but after completing the offering, Nansei Steel will be the second largest shareholder in Pomina. Some news sources indicated that this money was used to renew working capital as well as to invest in the blast furnace with a capacity of 1 million tons into operation.Transferring Pomina stake is an excellent solution to overcome financial difficultiesPomina is deep into a difficult financial period due to the influence of the domestic steel consumption market from 2022 to the present. Last year, the company made a loss of profit after tax of nearly 1100 billion dong and another 186 billion dong in the first quarter of 2023. According to the management, cooperating and transferring shares with Nansei Steel is the best solution to help the company have enough financial resources to meet market demand in the next half year.According to Pomina's CEO, the Vietnamese steel market in the period 2024 may prosper thanks to public investment; however, the growth percentage in consumption is only from 15 to 20% because the demand for Vietnam's steel consumption mainly comes from the real estate sector. Therefore, also at the meeting of shareholders, Pomina set a revenue target of 9,000 billion dongs this year, and the loss of after-tax was reduced to 150 billion dongs. This figure is much lower than the target set in the previous annual report because the situation of Vietnamese steel in the first half of this year is still gloomy and there are not many strong breakthroughs.In the first half of 2023, although the Vietnam steel market has passed the most challenging period, the recovery rate is still prolonged because the demand for steel is not diversified and only focuses on the real estate sector. However, in the future, the domestic steel consumption market will have more bright spots when Vietnam is promoting investment strategies in automobile manufacturing and renewable energy industries. These two fields have strong steel consumption when most of their parts and components are made of steel to increase sustainability. 

The trend of steel import is facing many challenges and the risk of cutting production due to world fluctuations such as the extended Russian-Ukrainian conflict,... According to the latest report of the Vietnam Steel Association (VSA), the total export and import turnover of goods in June 2023 was estimated at USD 145 million, down 22.3% over the same period in 2022. Which export of construction steel reached 149,623 tons, down 21.5%.1. General assessment of Vietnam's import and export situation in June 2023The total export and import turnover of goods in June 2023 was estimated at 145 million USD, down 22.3% over the same period last year. Generally, in the first half of 2023, goods' total export and import turnover reached 930.6 million USD, down 14.2% over the same period in 2022. Which export of goods was estimated at 730 million USD, down 14.4%; the import was estimated at 200.6 million USD, down 13.4% over the same period.Regarding the market, the US is still Vietnam's largest export market with an estimated turnover of 44.2 billion USD, China is the largest import market with a turnover of 50.1 billion USD. Trade surplus to the US was estimated at 37.2 billion USD, down 24.9% over the same period last year; to the EU was estimated at 14.5 billion USD, down 9.8%; to Japan reached 1.2 billion USD; from China reached 24.5 billion USD, down 30.9%; from Korea reached 13.4 billion USD, down 34.8%; from ASEAN reached 4 billion USD, down 39.1%.2. Vietnam's steel export situation in June 2023Regarding exports, the export turnover of goods in June 2023 was estimated at 29.3 billion USD, up 4.5% over the previous month thanks to strongly promoted trade promotion activities.In June 2023 alone, construction steel production reached 738,196 tons, down 9% from the previous month and 20% over the same period last year. Construction steel export output reached 149,623 tons, down 21.5%, of which flat billet had the largest output with more than 210 thousand tons. Ranked 2nd and 3rd respectively are hot rolled coils with over 280 thousand tons and galvanized steel with over 220 thousand tons.Currently, the price of iron ore 62% is trading at 112 USD/ton, a negligible increase compared to the beginning of June 2023. The average price of iron ore in the second quarter is about 113 USD/ton, down 11% compared to the beginning of the first quarter of 2023 and down 19% compared to the same period in 2022. Coking coal price is about 230 USD/ton FOB, the average trading volume price level in the first half of 2023 was 293.6/ton USD, down 36.9% over the same period last year.3. Vietnam's steel import situation in June 2023According to data from the Vietnam Steel Association (VSA), the top 3 steel products with the highest import volume in June 2023 were hot rolled coil, scrap steel and stainless steel, reaching respectively 197,727 tons, 52,455 tons and 33,926 tons. In which, China's hot-rolled steel imports were 102,433 tons, accounting for 52% of Vietnam's total import volume. China's increase in steel exports has created robust pressure for domestic enterprises, causing consumption output to plunge and unstable steel prices.VSA's explanation for the strong import of foreign steel into Vietnam is that the duty rate applied to imported steel products is 0%. Not only that, trade remedies such as steel billet safeguards have been removed, so most steel products such as galvanized steel sheets, pre-painted steel sheets, prestressed concrete or steel pipe are not subject to any defense measures. Because of the convenience and ease of not having a strict quality inspection process like in other countries, the steel output imported into Vietnam is very diverse in terms of type, quantity, and quality.The above is a report on Vietnam's steel import and export situation in June 2023 with fluctuations and changes in the world economy. AG真人游戏 Steel will continuously update news about the domestic steel market, so do not forget to follow mrssteel.com.vn to receive the latest articles. For questions and advice on importing Vietnamese steel, don't hesitate to get in touch with AG真人游戏 Steel via Email at [email protected] or Whatsapp at +84 76 911 2358.

Weak business results due to the gloomy real estate market forced businesses to cut costs to maintain operations. These are the difficulties and challenges that the China steel industry has to face.Recently, China's large steel enterprises have announced that their business profits have decreased. It also mentioned obstacles that China steel enterprises are expected to face in the second half of this year. It is known that the reasons for these obstacles stem from low consumption demand and pressure to cut costs.According to the China Iron and Steel Association (CISA), this industry has reached a critical turning point in demand. CISA also concurs with the view of low consumption and persistently thin margins.In the first 5 months of the year, nearly half of China's giant steel mills had a loss in business results; although the number of orders increased, sales still declined. These are also two big problems that China's steel enterprises have to face at this time.China is known as the country with the most developed steel industry in the world, with more than 50% of steel production being produced in Chinese factories. However, the majority of input materials for steel production are imported from Australia and Brazil.China's steel market has just recovered due to the impact of the COVID-19 epidemic and the crisis in the real estate market. The real estate market and infrastructure construction account for about 60% of China's steel demand. However, infrastructure investment stimulus programs have slowed, while the real estate market is also growing slowly. Meanwhile, the Chinese government continues to encourage mergers and cuts to address persistent oversupply. It can be said that China's steel industry is undergoing reform, but progress is relatively slow.The Chinese government has not yet taken drastic measures to boost the country's domestic demand for steel. The profit of the steel industry is low, but the price of input materials for steel production is relatively high. This affects steel prices, leading to a gloomy domestic consumption market.In the context of weak domestic demand, forcing China steel enterprises to boost exports. However, the fact that factories boost exports to free up inventories means that selling prices are continuously falling. In May, the country's steel export price fell below $1,000 per ton ($920 per ton).According to a report by Marubeni Research, the level of oversupply (determined by subtracting consumption from crude steel production) in the first five months of 2023 has reached the highest level in the past seven years of the China steel industry.

On July 7, 2023, Steel Dynamics announced an unplanned outage of the hot-rolled coil mill at Sinton Texas Flat Roll Steel Mill. With this temporary shutdown, it is expected to restart before July 30, 2023. The cause of the outage was a wheel cutter failure on July 1, 2023. During the shutdown of the hot rolling mill, the cold rolling mill and flat steel lines are still operating as usual.The factory had a positive pre-tax profit with stable operations in the second quarter of 2023. It is expected that during the hot-rolled coil downtime, the additional cost to fix the problem will be less than $1 million.Steel Dynamics - The most significant domestic steel producer in the USWith annual steel production, recycling capacity, and facilities throughout the United States and Mexico. Steel Dynamics is one of the major domestic steel producers in the US market. Steel Dynamics' main products include hot-rolled coil, cold-rolled coil, bar steel, shape steel,... In addition, the company also manufactures liquid iron and processes and sells ferrous and non-ferrous scrap.Predictions about the futureIn the press release about the suspension of the hot-rolled coil mill that Steel Dynamics put out, there are some predictions about the situation of the economy and the steel industry market. These statements are effective as of the press release date and are indicative based on the current economic situation. Some factors that could cause such forward-looking statements to turn out differently than anticipated include: (1) domestic and global economic factors.(2) global steelmaking overcapacity and imports of steel, together with increased scrap prices.(3) pandemics, epidemics, widespread illness, or other health issues, such as COVID-19 or its variants.(4) the cyclical nature of the steel industry and the industries we serve.(5) volatility, significant fluctuations in prices and availability of scrap metal, scrap substitutes, and supplies, and our potential inability to pass higher costs on to our customers.(6) cost and availability of electricity, natural gas, oil, or other energy resources are subject to volatile market conditions.(7) increased environmental, greenhouse gas emissions and sustainability considerations or regulations.(8) compliance with and changes in environmental and remediation requirements.(9) significant price and other forms of competition from other steel and aluminum producers, scrap processors, and alternative materials.(10) availability of an adequate source of supply of scrap for our metals recycling operations.(11) Cybersecurity threats and risks to our sensitive data and information technology security.(12) The implementation of our growth strategy.(13) litigation and legal compliance.(14) unexpected equipment downtime or shutdowns.(15) Governmental agencies may refuse to grant or renew some of our licenses and permits.(16) our senior unsecured credit facility contains, and any future financing agreements may contain, restrictive covenants that may limit our flexibility.(17) the impacts of impairment charges.Benefits of importing hot-rolled coil from VietnamVietnam's steel industry is considered to have a solid growth rate in the region; so far, it has risen to the 13th position in the world. This is a remarkable achievement for Vietnamese steel on the world steel industry map. Currently, the two largest hot-rolled coil manufacturers in Vietnam are Formosa Ha Tinh and Hoa Phat Group.Thanks to free trade agreements (FTA) such as CPTPP, EVFTA,... they have created a springboard to promote the development of Vietnam's steel industry like a storm. In addition, the core is hot-rolled coil enterprises in Vietnam that have constantly improved and diversified many product lines to help meet the needs of the market.In addition to the advantages of trade policy, the cost of steel production by Vietnamese enterprises is also lower than that of foreign enterprises. The majority of hot-rolled coil products are produced from iron ore, and because we are a country with solid mineral potential, we do not have to import input materials, thereby contributing to reducing manufacturing costs.With the benefits mentioned above, foreign importers who choose to import hot-rolled coil from Vietnam receive quality products and have more reasonable costs compared to other countries. If you need to import hot-rolled coil from Vietnam, don't hesitate to get in touch with us here.

According to the General Department of Vietnam Customs report, thanks to the trade promotion activities, the import and export turnover in May 2023 was estimated at 55.86 billion USD, up 5.3% compared to the previous month. The export of iron & steel reached 1.13 million tons, and the import of iron & steel of all kinds in May 2023 reached more than 838,000 tons.1. General assessment of Vietnam's import and export situation in May 2023According to preliminary data in May 2023 from the General Department of Customs, the country's total import and export value reached 54.08 billion USD, up 1.9% (equivalent to 1 billion USD) compared to the previous month. Export value was 28.04 billion USD, up 0.6% (equivalent to 176 million USD) and import value was 26.04 billion USD, up 3.3%.Regarding the export market, the United States is still Vietnam's largest partner with an estimated turnover of 37.2 billion USD. China is the largest import market of our country with an estimated turnover of 43.4 billion USD. In the first 5 months of 2023, Vietnam's trade surplus to the US was estimated at 31.2 billion USD; to the EU was 12.6 billion USD; to Japan was 521 million USD.2. The situation of Vietnam's steel exports in May 2023Merchandise exports in May 2023 reached 28.04 billion USD, up 0.6% (equivalent to 176 million USD) over the previous month. The commodity groups with the most substantial increase in value were textiles and garments with an increase of 376 million USD, vegetables and fruits by 265 million USD, iron & steel of all kinds with an increase of 118 USD, crude oil by 98 million USD, compared to the previous month.Iron & steel exports of all kinds in May 2023 reached 1.13 million tons, bringing the total export volume of this commodity in the first 5 months of 2023 to 4.38 million tons, up 10.4% over the same period last year. The main reason is that the import demand of the EU market increased by 55% and reached 1.36 million tons. Among 27 European countries, Italy is the largest importer of Vietnamese steel with nearly 696,000 tons, up 121% over the same period last year.According to the Ministry of Industry and Trade, Vietnam's future steel exports to the EU market will have many advantages thanks to changes in trade remedy policies for some steel products imported from developing countries in the WTO. According to the new regulations, valid from July 1, 2023, Vietnam benefits significantly from this quota expansion.Vietnam's most prominent steel export market is the ASEAN region with about 36% market share. In the first 5 months of 2023, the amount of iron & steel exported to the ASEAN market was 1.53 million tons.3. Vietnam's steel import situation in May 2023According to the General Department of Customs, the import value of goods in May 2023 reached 26.04 billion USD, up 3.3% (equivalent to 827 million USD) over the previous month. In the group of raw materials with increased the most such as crude oil increased by 40.1%, gasoline of all kinds increased by 20.8%, and coal of all kinds increased by 14%. Meanwhile, the commodity groups with a sharp decrease were iron & steel scrap, down 53.1% (equivalent to 137 million USD), and iron and steel and products down 7.4% (equivalent to 95 million USD).Iron & steel imports of all kinds in May 2023 reached more than 838,000 tons, down 18.9% over the previous month, worth 772 million USD, down 13.5%. Thus, in the first 5 months of 2023, Vietnam imported 4.61 million tons of iron & steel of all kinds, reaching 3.16 billion USD, down 29.7% in value over the same period last year.Currently, Vietnam mainly imports iron & steel products of all kinds from main markets including China with 2.49 million tons, up 14.5%, Japan with 737,000 tons, down 15.3%, Korea reached 409,000 tons, down 27.2%...compared to the same period in 2022.4. AG真人游戏 Steel provides prestigious Vietnamese steel import solutionsAG真人游戏 Steel is one of the units sourcing and supporting the export of Vietnamese steel to the markets of ASEAN, Europe, the United States, the UK, India, Turkey,... With many years of experience in the field of supplying cheap and quality steel from Vietnam's largest steel corporations such as Hoa Phat Group, Hoa Sen Group, Ton Nam Kim, Ton Dong A,... AG真人游戏 Steel is proud to be a reliable partner for importers all around the world.When buying domestic products, international customers often face language, market, customs policy, and duty rate difficulties. In addition to acting as an intermediary to help importers connect with Vietnamese manufacturers, AG真人游戏 Steel also supports procedures, delivery processes, customs clearance, the commitment that goods are imported on time, and your request.Facing the continuous changes in the world economy, updating the latest steel import and export data will help importers have more data and bases to make the best purchasing decisions. For any questions and contact to buy Vietnamese steel, please contact AG真人游戏 Steel via Whatsapp: +84 76 911 2358

After experiencing severe earthquake damage in February, Turkiye has begun to increase steel imports to rebuild infrastructure quickly. In the first 3 months of the year, Turkiye became the world's No. 1 net importer with a trade deficit of 55%.1. T眉rkiye increased steel imports to rebuild infrastructureAccording to data from the Turkiye Steel Manufacturers Association, the ratio of steel exports to imports here has fallen to 55%. The reason for the significant difference between export and import volume comes from the government's policy of postponing the date increase in import tax on flat steel products on February 26, 2023.Many sources say the delay will last until April 1, 2023. Turkiye steel producers met with the Ministry of Industry and Trade to discuss a plan to supply steel for construction reconstruction and rebuilding destroyed cities. Customs duties on the hot rolled coil (HRC), cold rolled coil, and galvanized steel will be increased from 6-7% to 15%, 17%, and 20% respectively.The manufacturers' association is worried that this extending delay in import tax increases will imbalance imports and exports and slow the recovery of exports. In addition, construction steel prices in Turkiye have shown signs of increasing uncontrollably because many factories here have suffered severe damage after the earthquake, leading to domestic supply not meeting the demand for reconstruction.2. Vietnam steel exports to Turkiye in the first 3 months of 2023Following the trend of increasing steel imports from Turkiye, Vietnam also benefits from a part of the total volume of Turkiye steel imports. According to data from the General Department of Customs, in the first quarter of 2023, Vietnam exported 104,000 tons of steel, and this value increased 386 times over the same period last year.Specifically, in the top of Vietnam's main steel export markets after the first two months of the year, Turkiye first participated with a total market share of 10%. The Vietnam High Commissioner in Turkiye said the earthquake had crippled the steel factory system here, but it would not significantly affect the import-export situation between the two countries. Turkiye accounts for 10% of the total steel export market share in the first 2 months in 2023It is expected that Turkiye will have to spend about 120 billion euros within 5 years to be able to rebuild the construction works in the country including 750,000 tons of coil and 1.25 million tons of steel plate. The reconstruction needs of Turkiye will be an essential mark to help Vietnamese steel enterprises further promote their steel export plans, contributing to removing difficulties in consumption when Vietnam's steel demand is weak. 

China's steel export output is forecasted to reach a record level in the past 7 years when the export volume from January to May has reached 36.4 million tons. The declining domestic demand and the depreciating currency have encouraged manufacturers in this country to promote exporting to deal the inventories.China's steel export is predicted to hit a new record in 2023Recently, some analysts indicated China will reach the steel export milestone in 2023 with an output in the range of 66-77 million tons, this is the highest milestone for 7 years ago. Specifically, in the time of period from January to May 2023, China's steel exports reached 36.4 million tons and increased by 41% over the same period last year. This development trend is expected to continue until the end of the year. It is possible that the total export volume of China by the end of 2023 will increase by 10% compared to 2022.Customs data shows that China's steel exports in May reached 8.36 million tons, which is the highest figure since September 2016. There are also some predictions that steel export volumes may decrease in June but very quickly it will grow again in July and August due to strong demand coming from Korea and Southeast Asian countries.China鈥檚 steel export volume is likely to hit a new record in 2023The reasons for China's steel exports surgeSome of the reasons for the sudden steel export output in this year come directly from the weakening domestic demand and the decreasing of the yuan. The chaotic domestic steel industry has forced steel producers in China to shift exports to overseas markets with higher demand in order to deal with inventories.Production increases but domestic demand weakensChina's real estate began to weaken in 2022, this recession dealing a strong affection to domestic steel manufacturers because the construction sector has always been the largest steel consuming sector. Construction projects in the real estate sector here from January to May have decreased by more than 7% compared to the same period last year.On the other hand, steel production output has reached the optimal level, at the end of June, blast furnace utilization rate (BAF) among 247 steel mills reached 92%, this is an all-time high number since 2021 to present. The constant increase in productivity while the demand from real estate is weakening has made the factories here look to export as a solution to reduce the inventory load.The Yuan depreciatesThe yuan has depreciated by nearly 7% against the US dollar since the beginning of the year. The fall renminbi exchange rate has brought opportunities for steel exporters in China as the export prices will be cheaper and provide them some advantages with the other manufacturers abroad. Beside that, the low price steel from China producers brings competition to other exporting countries.Consumption demand increased in some areasIn the context of the global economic recession, which has significantly affected the demand for steel in many countries. However, there are still some countries in the Middle East and North Africa that have shown strong consumption in the half of 2023. Currently, Middle Eastern countries are gradually investing in infrastructure projects to boost the economy instead of depending on oil as before, so the amount of steel imported from China entering this region has grown very strongly.The inflation situation in countries in Southeast Asia has made it easier to import Chinese steel because the price is extremely cheap. In addition, the demand for steel in some countries in this region is also boosted by some infrastructure projects sponsored by China contractors. However, Vietnam was out of the forecast because the demand for steel in Vietnam in May decreased by 15% compared to the previous month, the reason coming from the slow construction activities and projects.Some regions have high steel importing from ChinaSome risks of trade remedies from China's steel exportsThe growth in China's steel export generated concern for many steel producers in other importing countries due to fierce price competition. Some experts say that Chinese steel export shipments are harming foreign manufacturers because increased steel imported volume will force domestic steel mills to reduce output.India - a new power in global steel production is considering imposing countervailing duty on steel imports from China. In 2022 last year, India imposed anti-dumping duties on Chinese stainless steel pipes to protect the profits of domestic steel producers.Vietnam's steel industry proactively responds to trade competitionThe increasing steel production along with a favorable price can produce some advantages in exporting but it can also bring trade defense lawsuits. China is considered the world's largest steel producer today, but in fact this country is facing a lot of investigations and a series of anti-dumping decisions from other countries.Vietnam is also a new potential country in the field of steel production, Vietnamese steel products are not only present in the Southeast Asian market but also in Europe and America. However, the rapid increase in export volume means that many other countries will pay attention and domestic steel products will face anti-dumping lawsuits in the future.Facing the risks of trade remedies, the Vietnam Import-Export Department in recent years has promptly established agreements signed between many countries, including Free Trade Agreements (FTAs) such as the Vietnam Trade Union Agreement (FTA) and the Vietnam Trade Union Agreement (FTA); the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Vietnam-EU FTA (EVFTA)... have opened up great opportunities for Vietnam's steel industry to export more easily.