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Vietnam’s steel production declined in January through November.

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The Vietnam Steel Association (VSA) reports that Vietnam’s finished steel production in the nation reached 2.45 million mt in November of this year, up 2.8 percent from the prior month and 34.3 percent from November 2022.

Sales of steel products in the nation raised to 2.53 million mt in November of this year, up 30.1 percent from the previous year and 13.1 percent from October.

Compared to the first 9 months of the prior year, Vietnam’s steel production fell by 7.8% to 25.01 million mt during the January-November period, while the country’s steel sales decreased by 5.6% to 23.70 million mt.

Meanwhile, Vietnamu2019s finished steel imports decreased by 8.94% compared to the prior month and rose by 53.96% YoY to 1.28 million metric tonne in October, while the country’s finished steel products imports totaled about 10.61 million mt in the first ten months, raising by 8.61% YoY.

Vietnam’s finished steel exports rose by 5.06% MoM and by 71.47% YoY to 908,000 metric tonne in the given month.

From January to October, the country’s finished steel exports totaled 9.14 million mt, up 30.74% YoY.

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