Vietnamese firms stress out over surging import of Chinese steel

March 24, 2024

Of the total, steel bought from China accounted for 1.8 million metric tons, a three-fold year-on-year increase in volume. Many steel firms in Vietnam said that the nation’s steel imports are trending up, so Chinese steel is threatening local production. In addition, the prices of steel imported from China and other nations into Vietnam have plummeted, according to some local steel producers. Many Vietnamese steel producers are supplying steel products to multiple major projects in the nation. In fact, in 2023, the association’s members churned out some 28 million metric tons, while the consumption amounted to 26.3 million metric tons, with eight metric tons exported.

The source of this news is from Tuoi Tre News

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