Illustrative photo (Photo: VNA)Hanoi (VNA) – Steel products are among exportstaples with high growth in the first 10 months of this year, according tostatistics of the Ministry of Industry and Trade.
In the period, the steel industry earned 2.47 billion USDfrom the export of various types of steel products, up 49.1 percent from thesame period last year.
The output of unprocessed iron and steel also increased by40.5 percent, while that of rolled steel went up 6.6 percent and shape steel,6.9 percent on a yearly basis.
Main export markets of Vietnam’s steel in the first ninemonths of this year were Cambodia, which bought 631.2 million USD worth ofVietnamese steel products, the US (613.1 million USD), Indonesia (360.6 millionUSD), Malaysia (330.6 million USD), and Thailand (172.3 million USD).
The MoIT said the steel industry faced fierce competitionfrom imports, along with many anti-dumping lawsuits in importing countries.
A problem of concern for Vietnam is the launch ofanti-dumping investigation in several traditional ASEAN markets such asThailand and Malaysia targeting steel products with Chinese origin or importedfrom China into Vietnam.
The ministry advised steel firms to use domestic materialsand strive towards closed production chain to avoid anti-circumvention investigations.-VNA
