Off the wire
• Afghan military kills 62 insurgents: government  • Live-broadcast websites closed in Beijing's "clean the web" campaign  • China Arena Football League to kick off on National Day  • Commentary: Shocking IS comments good chance for some Westerners to see Dalai Lama's real face  • Nepalese PM embarks on visit to India  • Goods exports drive continued New Zealand's GDP growth in 2Q  • Growth in New Zealand manufacturing eases in August  • Japan's largest opposition party elects 1st female leader  • Beijing icludes garbage disposal, recycling in urban plan  • News Analysis: Deleveraging not panacea for China's property market  
You are here: 　 Home

Vietnam imports some 12.6 mln tons of steel in 8 months, mainly from China

Xinhua, September 15, 2016 Adjust font size:

Vietnam imported some 12.6 million tons of steel in the first eight months of 2016, up 27.3 percent year-on-year, according to Vietnam's Ministry of Industry and Trade (MoIT) on Thursday.

The country spent nearly 5.3 billion U.S. dollars on steel imports, up 2.1 percent year-on-year during the period, reported Vietnam Investment Review (VIR).

According to the MoIT, China's mainland accounts for some 60 percent of Vietnam's total steel import volume and some 56 percent of total import value, followed by Japan, South Korea, China's Taiwan and Russia.

The domination of Chinese steel imports in Vietnam was attributed to price competitiveness of China's steel, which stands 10 percent lower than that of domestic producers, reported VIR.

Statistics by Vietnam Steel Association showed that from January to August, Vietnam produced some 11.5 million tons of steel, up 29 percent year-on-year while consuming 9.54 million tons of steel, up 29.3 percent year-on-year. Enditem