Vietnam imported 5.7 million tons of steel in Jan-May: MoIT The Saigon Times Daily Steel ingots are seen at a storehouse. Vietnam imported 5.7 million tons of steel in Jan-May – PHOTO: VIETNAMPLUS HCMC – Vietnam imported some 1.4 million tons of steel in May, taking the total in the first five months of the year to some 5.7 million tons, valued at over US$4 billion, news website Vietnamplus stated, citing a Ministry of Industry and Trade report. The volume increased a mere 1.1% over the same period last year. According to the Vietnam Steel Association (VSA), its members produced nearly five million tons of raw steel and sold some 5.2 million tons of the product during the period. Meanwhile, nearly 9.7 million tons of finished steel products were manufactured, up 24% year-on-year. VSA members sold some 6.7 million tons of steel in January-May, growing 35.2% over the year-ago period, including 1.6 million tons shipped abroad, surging 47.7% versus the same period last year. In January-April, Vietnam purchased nearly 1.82 million tons of steel from China, down 34% in volume and 13.4% in value year-on-year. In particular, steel imports from China comprised nearly 42.5% of Vietnam’s total steel imports. On the other hand, ASEAN remained Vietnam’s key steel buyer, at one million tons of steel in the first four months of the year, accounting for more than half of the country’s steel exports, followed by the United States (15.2%), the European Union (10%), South Korea (4.1%) and Taiwan (3.3%).