According to the latest report of the Vietnam Steel Association (VSA), from the beginning of the year until now, steel production has reached more than 11.6 million tons, down 8.1 percent over the same period last year. The sales of steel enterprises have also encountered many difficulties as the market was affected by the Covid-19 pandemic. Accordingly, steel sales only reached 10.4 million tons, down 10.7 percent over the same period last year. In which, steel exports exceeded 1.8 million tons, down 24.6 percent over the same period. In June alone, Vietnam exported more than 300,000 tons of steel to foreign markets, with a turnover of nearly US$250 million, up 14.5 percent over the previous month but down 21.9 percent over the same period last year. This is a rather pessimistic figure for enterprises in the steel industry. In the structure of export markets, VSA said that currently, steel exports to the Southeast Asia market accounts for 54.75 percent of total export volume and 57.8 percent of export turnover. Meanwhile, steel exports to the European market merely reach 4.15 percent. With such the above figures, it can be seen that the European market accounts for a tiny proportion of the… Read full this story
- Tata Steel to merge European operations with ThyssenKrupp
- Chinese phones now account for a third of the European market, with Huawei leading the way
- Hyundai Motor Group ranks in 4th place in European market
- Young Vietnamese win prizes of European heritage essay contest
- Reborn British Steel gives shares to workers after return to profit
- Vietnamese dairy brands go abroad as foreign brands arrive in VN
- Tata Scottish steel works rescued by Liberty House
- An Evening Walk Down D-St: Market posts biggest single-day gain in 10 years; investors richer by Rs 7 lakh crore
- Double-A bonds may be allowed as collateral in money market
- UK accused of leading efforts to block limits to Chinese steel dumping
Vietnamese steel tries its strength in European market have 316 words, post on sggpnews.org.vn at August 14, 2020. This is cached page on Talk Vietnam. If you want remove this page, please contact us.
