The prospect of Vietnam's steel market in the fourth quarter of 2021 will be better when the provinces and cities gradually control the epidemic, consumption demand increases, and steel exports are forecast to grow strongly.
Producing rolled steel for export at JFE Shoji Hai Phong Steel Co., Ltd., invested by Japan, at VSIP Hai Phong Urban Industrial Park. (Photo: Danh Lam/VNA).
The Vietnam Steel Association (VSA) said that in the first nine months of 2021, the production and consumption of steel products of all kinds still increased quite well due to inheriting the good business results of the first months of 2021.
It is forecasted that at the end of the year, with increased consumption demand, steel exports are expected to grow well.
Specifically, according to VSA, finished steel production in 9 months reached more than 24.8 million tons, up 34.1% over the same period in 2020; steel consumption of all kinds reached nearly 22 million tons, up 32.5% compared to; in which, steel exports of all kinds reached more than 5.7 million tons, up 78.1% over the same period in 2020.
Crude steel production reached 17.79 million tons, up 24% over the same period in 2020. Consumption reached 17.15 million tons, up 22%; in which, exports reached 1.59 million tons, down 31.7% over the same period in 2020.
According to VSA, steel imports to Vietnam were 14.9 million tons with a value of more than 11 billion USD, up 1% in volume and 44% in value over the same period in 2020.
Export of finished and semi-finished iron and steel reached 10.6 million tons with a value of more than $9 billion to more than 20 countries and regions around the world in the first eight months of 2021, up 40% in volume and up. 2 times in export value compared to the same period in 2020. This is the driving force for the steel industry to maintain its overall growth over time.
In the third quarter of 2021 alone, finished steel production reached nearly 7.16 million tons, an increase of 4% over the same period in 2020. Consumption of finished steel products of all kinds in the third quarter reached more than 6.2 million tons, a decrease of 7%, compared to the same period in 2020.
However, the good growth in the first months of the year helped the steel industry maintain a good increase in recent years.
The Vietnam Steel Association said that after performing well in the first quarter of 2021 due to rising commodity prices, domestic steel enterprises faced many difficulties when provinces and cities implemented social distancing in accordance with Directive 16. or at the highest level.
For the third quarter of 2021 alone, the gross domestic product (GDP) was estimated to decrease by 6.17% over the same period last year, which is the deepest decrease since Vietnam calculated and announced quarterly GDP up to now; in which, the industry and construction sector decreased by 5.02%.
Global steel production raw material prices in the first 9 months of 2021 have been complicated, prices of steel materials have continuously increased since the end of 2020; in which, the price of iron ore in May 2021 increased by 2.6 times, the price of scrap increased by 2.5 times compared to the same period in 2020. After that, the prices of the above materials were adjusted. slightly decreased in Q2 & 3.
VSA leadership representative said that the prospect of Vietnam's steel market in the fourth quarter of 2021 will be better when the provinces and cities gradually control the epidemic and the direction of the Vietnamese Government to restore the economy after the pandemic. . In general, steel export forecast in 2021 will grow well.
Besides, with the FTAs being signed and the recovery of production and construction investment will be a factor to help the steel industry's growth be more positive in the year-end period.
Also according to a forecast from the World Steel Association, the wave of diseases, new infections and supply constraints have led to a slow recovery in the second half of the year and are preventing a stronger recovery momentum in the year. 2021.
But with a high backlog of orders, resumption of construction along with better vaccinations in countries, expect steel demand to continue to recover in 2022.
It is forecasted that at the end of the year, with increased consumption demand, steel exports are expected to grow well.
Specifically, according to VSA, finished steel production in 9 months reached more than 24.8 million tons, up 34.1% over the same period in 2020; steel consumption of all kinds reached nearly 22 million tons, up 32.5% compared to; in which, steel exports of all kinds reached more than 5.7 million tons, up 78.1% over the same period in 2020.
Crude steel production reached 17.79 million tons, up 24% over the same period in 2020. Consumption reached 17.15 million tons, up 22%; in which, exports reached 1.59 million tons, down 31.7% over the same period in 2020.
According to VSA, steel imports to Vietnam were 14.9 million tons with a value of more than 11 billion USD, up 1% in volume and 44% in value over the same period in 2020.
Export of finished and semi-finished iron and steel reached 10.6 million tons with a value of more than $9 billion to more than 20 countries and regions around the world in the first eight months of 2021, up 40% in volume and up. 2 times in export value compared to the same period in 2020. This is the driving force for the steel industry to maintain its overall growth over time.
In the third quarter of 2021 alone, finished steel production reached nearly 7.16 million tons, an increase of 4% over the same period in 2020. Consumption of finished steel products of all kinds in the third quarter reached more than 6.2 million tons, a decrease of 7%, compared to the same period in 2020.
However, the good growth in the first months of the year helped the steel industry maintain a good increase in recent years.
The Vietnam Steel Association said that after performing well in the first quarter of 2021 due to rising commodity prices, domestic steel enterprises faced many difficulties when provinces and cities implemented social distancing in accordance with Directive 16. or at the highest level.
For the third quarter of 2021 alone, the gross domestic product (GDP) was estimated to decrease by 6.17% over the same period last year, which is the deepest decrease since Vietnam calculated and announced quarterly GDP up to now; in which, the industry and construction sector decreased by 5.02%.
Global steel production raw material prices in the first 9 months of 2021 have been complicated, prices of steel materials have continuously increased since the end of 2020; in which, the price of iron ore in May 2021 increased by 2.6 times, the price of scrap increased by 2.5 times compared to the same period in 2020. After that, the prices of the above materials were adjusted. slightly decreased in Q2 & 3.
VSA leadership representative said that the prospect of Vietnam's steel market in the fourth quarter of 2021 will be better when the provinces and cities gradually control the epidemic and the direction of the Vietnamese Government to restore the economy after the pandemic. . In general, steel export forecast in 2021 will grow well.
Besides, with the FTAs being signed and the recovery of production and construction investment will be a factor to help the steel industry's growth be more positive in the year-end period.
Also according to a forecast from the World Steel Association, the wave of diseases, new infections and supply constraints have led to a slow recovery in the second half of the year and are preventing a stronger recovery momentum in the year. 2021.
But with a high backlog of orders, resumption of construction along with better vaccinations in countries, expect steel demand to continue to recover in 2022.
Duc Dung (TTXVN/Vietnam+)
Link: https://baoxaydung.com.vn/xuat-khau-san-pham-thep-cuoi-nam-du-bao-tang-truong-tot-317589.html
