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Vietnam's steel output to increase by 20-22% in 2018

2018-07-17 14:24:44  【Print】
Currently, Vietnam's steel production industry shows positive upward trend as a great number of real estate and transportation infrastructure are under construction during the stable development period of Vietnam's economy.

By late May of 2018, its total export of iron & steel reached 2.36 million tonnes with gross export of USD1.Asian Metal Copyright4% YOY, 301,000t to Indonesia up by 25.Asian Metal Copyright76 billion, up by 41.Asian Metal Copyright .Asian Metal Copyright9% and 57.Asian Metal Copyright Besides, it exported 368,000t to U.Asian Metal Copyright8% YOY respectively.Asian Metal Copyright36 million tonnes with gross export of USD1.Asian Metal Copyright Vietnam mainly exported iron & steel to ASEAN nations, including 491,000t to Cambodia (up by 48.Asian Metal Copyright76 billion, up by 41.Asian Metal Copyright4% YOY), 301,000t to Indonesia (up by 25.Asian Metal Copyright Vietnam mainly exported iron steel to ASEAN nations, including 491,000t to Cambodia up by 48.Asian Metal Copyright4% YOY) and 292,000t to Malaysia (up by 99% YOY).Asian Metal CopyrightCurrently, Vietnam's steel production industry shows positive upward trend as a great number of real estate and transportation infrastructure are under construction during the stable development period of Vietnam's economy.Asian Metal Copyright Besides, it exported 368,000t to U.Asian Metal Copyright2 blast furnace, with annual average power of 4 million tonnes, into production in the second half of 2018 in order to increase its annual average capacity by two times 7-8 million tonnes, which would drive HRC production to increase by 154% YOY.Asian Metal CopyrightS.Asian Metal Copyright76 billion, up by 41.Asian Metal Copyright (up by 104% YOY) and 286,000 to E.Asian Metal Copyright Specifically speaking, Vietnam Hoa Phat Group will begin to produce 600,000t of rolled steel in August, 2018 and Vietnam Tungho Steel Company plans to produce 600,000t of construction steel in the second half of the year.Asian Metal CopyrightU.Asian Metal CopyrightU.Asian Metal Copyright (up by 146% YOY).

In the first half of 2018, Vietnam saw YOY increases in output of crude steel, rolled steel, bar steel and angle steel and the figure is expected to go up by 20% YOY in the second half of this year, including 10% in steel for construction, 5% in CRC production and 15% in steel for welding.

Notably, Formosa Ha Tinh Steel Group will put its No.2 blast furnace, with annual average power of 4 million tonnes, into production in the second half of 2018 in order to increase its annual average capacity by two times (7-8 million tonnes), which would drive HRC production to increase by 154% YOY.

In addition to the abovementioned, some projects will put into operation as scheduled. Specifically speaking, Vietnam Hoa Phat Group will begin to produce 600,000t of rolled steel in August, 2018 and Vietnam Tungho Steel Company plans to produce 600,000t of construction steel in the second half of the year.

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