Logo of Phnom Penh Post newspaper Phnom Penh Post - Global steel prices surge, Vietnam exports grow

Global steel prices surge, Vietnam exports grow

Content image - Phnom Penh Post
Vietnam exported more than 478,300 tonnes last month, up 21.52 per cent over October and 40 per cent over the same period last year. VIETNAM NEWS AGENCY

Global steel prices surge, Vietnam exports grow

Steel prices rebounded globally and Vietnamese steel exports also saw positive growth last month.

Steel production of all kinds reached more than 2.4 million tonnes last month, a month-on-month increase of 4.34 per cent, and year-on-year increase of 15.6 per cent, reported the Vietnam Steel Association (VSA).

Sales of steel also reached more than 2.4 million tonnes, a sharp increase of nearly 36.9 per cent compared to October, and up 20.9 per cent over the same period last year. Steel sales also set a record last month.

Exports last month were also better with export figures reaching more than 478,300 tonnes, up 21.52 per cent over October and 40 per cent over the same period last year.

However, steel production, sales and exports were still almost flat in the 11 months.

Specifically, the production of steel in eleven months increased only one per cent over the same period last year, reaching more than 23.3 million tonnes.

Steel sales in the first 11 months of this year decreased by nearly one per cent compared to the same period in last year, reaching more than 21 million tonnes. Meanwhile, exports decreased by 2.8 per cent over the same period last year, reaching over 4.1 million tonnes.

Regarding the steel production market, the price of iron ore early this month rose by about 16-17 per cent compared to the beginning of last month.

The Vietnamese economy last month continued to recover in new normal conditions, while production, business, trade and consumption continued as a growth factor for the steel market, reported the VSA.

Price of raw materials for steel production such as iron ore and scrap steel has soared in the past three years and set a new price mark last month.

Along with that, trade tensions between countries, the trend of increasing trade protectionism and the impact of the Covid-19 pandemic have made steel prices increase, according to the VSA.

Specifically, the price of raw materials for steel production increased dramatically in the global market last month, which affected its price in Vietnam.

Domestic steel price is currently at an average of about 12,000-12,500 dong ($0.51-0.54) per kg at the beginning of this month, depending on the type of product and enterprises.

Price of construction steel currently sold on the market is around 15,000 dong per kg, an increase of about 2,000 dong per kg compared to last month.



  • Ministry taking steps over Thai ‘replica’ of Angkor Wat

    The Ministry of Culture and Fine Arts has dispatched experts to inspect the ongoing construction of a temple in Wat Phu Man Fah, located in Thailand’s Buriram province. This temple appears to be a replica of Cambodia’s renowned Angkor Wat. The ministry said

  • Ream base allegations must end, urges official

    A senior government official urges an end to the allegations and suspicions surrounding the development of Cambodia’s Ream Naval Base, now that Prime Minister Hun Manet has addressed the issue on the floor of the 78th UN General Assembly (UNGA 78). Jean-Francois Tain, a geopolitical

  • PM to open new Siem Reap int’l airport December 1

    Prime Minister Hun Manet and Chinese leaders would jointly participate in the official opening of the new Chinese-invested Siem Reap-Angkor International Airport on December 1. The airport symbolises a new page in the history of Cambodian aviation, which will be able to welcome long-distance flights to

  • Cambodia claims int’l titles in eight-sided arena

    Three prominent Cambodian Kun Khmer fighters – Thoeun Theara, Phal Sophorn and Roeung Sophorn – all claimed International Professional Combat Council (IPCC) world titles at the September 30 octagonal ring event at Town Arena, although popular Kun Khmer exponent Prum Samnang failed to secure a win in his

  • CP denied registration documents by ministry

    The Ministry of Interior will not reissue registration documents to the Candlelight Party (CP). Following a September 21 meeting between ministry secretary of state Bun Honn and CP representatives, the ministry cited the fact that there is no relevant law which would authorise it to do

  • Rapper VannDa bridges borders with beats

    Born in a bustling Cambodian market, a young dreamer named VannDa found his rhythm amid the clatter and chaos. Today, his beats resonate far beyond the shores of his homeland, streaming on platforms like Spotify and capturing the imaginations of hip-hop fans in the region