Iron and Steel exports increase in volume and decrease in prices

	Establishing a trend of decreasing interest rates for the market
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The average value of iron and steel exports decreased by about 260 USD/ton year-on-year. Photo: Internet.

According to the latest preliminary statistics of the General Department of Customs, in the first half of August (August 1-15), the country exported nearly 335 thousand tons of iron and steel of all kinds, with a turnover of 235.5 million USD.

As of August 15, the country exported 6.73 million tons of iron and steel, with a total turnover of US$5.23 billion.

Iron and steel exports rose by 19.7% year-on-year, but the turnover dropped by about 10%.

The average value of each ton of exported iron and steel also plunged compared to the same period in 2022. Specifically, in the first months of 2023, the average value only reached about US$777 /ton, while the value recorded more than US$1,000/ ton year-on-year.

Regarding export markets, the EU and ASEAN are the regions leading the market share. According to the General Department of Vietnam Customs, at the end of July, the iron and steel export to the EU market (27 countries) rose 84% year-on-year to 2.02 million tons.

Meanwhile, the volume of iron and steel shipped to the ASEAN market decreased by 8% compared to 2.01 million tons in the previous year.