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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.

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

According to the latest iron and steel market report, steel sales volume in May reached more than 2.3 million tons, up about 13.6% month over month and on par with the same period in 2022. This is the best result from the beginning of the year so far, and the steel industry is expected to recover in the fourth quarter of 2023.Demand for steel market is still weakAfter a period of consecutive price increases, the world steel market tends to slow down and pause at 113.37 USD/ton, a slight increase of about 0.71%. Global steel demand has the potential to start recovering in 2023 after falling 3.2% in 2022. Accordingly, two regions, including East Asia and Southeast Asia, will contribute most of the growth in demand in 2023.In the first half of 2023, the iron ore market recorded many fluctuations when it sometimes reached 130 USD/ton, thanks to the recovery of China - the world's No. 1 steel market. However, iron ore prices then fell again due to slower global economic growth.The iron and steel market slowed down because the Chinese government's economic recovery stimulus policies were not strong enough. Especially in the real estate sector, which consumes a lot of iron and steel and is the driving force for the economic development of this country.Similarly, the North American market, the region that consumes about 7.5% of global steel production, is also facing high-interest rate pressure, bringing the risk of recession. In the European market, which currently accounts for more than 8% of steel consumption, after raising interest rates in June 2023, steel demand in this region is expected to decrease by about 1% in 2023 before recovering by about 5.4% by 2024.The steel market rises up against difficulties and challengesIn 2022, Vietnam will be the 13th largest steel exporter in the world, accounting for 3.4% of the global market share, and it will also be the 12th largest steel importer in the world, accounting for 5.5% of the world's total. This contributes to affirming the position of Vietnam's steel industry in the world steel market. The low iron and steel prices will benefit the imports of Vietnamese enterprises. In the first 5 months of the year, the whole country imported about 4.6 million tons of iron and steel, down about 12.4% in volume and nearly 30% in turnover due to the much lower iron and steel prices. In contrast, Vietnam exported nearly 4.3 million tons of iron and steel, up 10% over the same period last year.The domestic steel market weakened, forcing factories to reduce prices to increase competitiveness and boost consumption. In the first 5 months of the year, nationwide steel production reached more than 11 million tons, down 22% compared to last year. Steel products sold reached 10.4 million tons, down 19.3%; exports reached more than 3.1 million tons, up 2.6%.With the above signs, it can be seen that the steel market is moving in a positive direction. Difficulties will ease at the end of the year, especially in the fourth quarter of 2023, because this is the period of high demand when the works are accelerated. Besides, public investment will continue to support domestic steel demand.

The European Union (EU) has issued Regulation (EU) 2023/1301, amending Regulation (EU) 2019/159 on the application of safeguard measures to some imported steel products. The European Commission does not extend the safeguard duty for an additional year unless the EU鈥檚 steel producers can demonstrate injury from imported goods.1. EU: extension of safeguard measures against imported steel in the form of TRQOn June 2, 2023, the Committee on Safeguards of the World Trade Organization (WTO) announced that the European Union (EU) continued to extend its safeguard measure against imported steel under the form of tariff rate quota (TRQ) for some imported steel products for an additional year. The decision has been valid from July 1, 2023, to June 30, 2024.The reason for the extension is that the domestic steel industry of Europe can suffer significantly from the dumping and export of cheap steel by foreigners. The EC continues to maintain its defense by allocating quotas that are mixed between the way of allocating separate quotas for each country and general quota allocations to the remaining countries. The out-of-quota tariff is 25%. The amount of non-taxable quotas continued to increase by 4% compared to the period from July 1, 2021, to June 30, 2023.Vietnam is subject to a standard quota on a quarterly basis for 8 product groups, including:Group 1: hot rolled steel plateGroup 3B: electrical engineering steel plateGroups 4A, 4B: galvanized steel plateGroup 5: organic coated steel sheetGroup 9: stainless cold rolled steel plateGroup 25B: large steel pipesGroup 26: other steel pipesFor other groups of steel products, Vietnam is exempted from safeguard measures according to the criterion set for a developing country whose import turnover is less than 3%. In case the market share of importing another group of steel products from Vietnam into the EU exceeds 3%, this group will be included in the list of applying TRQ during the annual administrative reviews.2. EU: amending the application of safeguard measures to some imported steelsAfter listening to the recommendations from the relevant countries during the period from 5/6/2023 to 13/6/2023 along with the assessment of whether to terminate the safeguard measure early before June 2023 based on the general import export data in 2022, the EU has issued a new revised regulation effective from 1/7/2023.Under the revised rules, all tariff rate quotas (TRQs) of the safeguard measure will continue to increase by 4% from 1 July 2023. Any member of the WTO that is a developing country is exempted from safeguard duty in case that country's exports to the EU are less than 3% of its total imports for each product category. Vietnam is further applied to category 26 and removed category 3A compared to the old scope.If the aggregate share of imports from developing countries (with individual shares below 3%) exceeds 9% in a specific category, they will be subject to the same measure in that product category.According to the above Regulation, the countries benefiting from the quota expansion by country include Vietnam, Turkey, Brazil, China, Egypt, India, Indonesia, Malaysia, Moldova, North Macedonia, Oman, and South Fly.3. Vietnamese steel exports to the EU marketAccording to the latest report on Vietnam's steel market situation of the Vietnam Steel Association (VSA), the total production of the hot rolled coil in 2022 reached 6.04 million tons. Which, exports reached 1.3 million tons, up 0.9% over the same period in 2021.Galvanized sheet production in 2022 reached 4.56 million tons, down 23.4% over the same period in 2021, of which exports reached 2.086 million tons, down 38.1% over the same period in 2021. Steel pipe is one of the leading export products. According to VSA's record, the production output in 2022 reached more than 2.065 million tons, of which the export volume reached 258,873 tons, up 9.1% over the same period in 2021.With increasingly improved production capacity, and strong investment in technology lines, Vietnamese steel is capable of meeting international standards and customer requirements. The advantages of membership in the WTO and the signing of the EVFTA Agreements help Vietnam open up many opportunities to export steel to international markets in general and Europe in particular.Amendments in Regulation (EU) 2019/159 of the European Union positively impact Vietnam's steel industry. As a result, customers can import cheap, high-quality steel and enjoy many tax incentives.