Exports push steel industry’s growth

Steel enterprises are seeking ways to boost exports as the sector’s growth is now mainly driven by export activities.

According to the Vietnam Steel Association (VSA), steel production reached nearly 2.4 million tonnes in July, down 6.48 percent month-on-month, while steel sale reached more than 2.1 million tonnes, equal to that of the previous month but up 7.4 percent over the same month of 2020, in which steel exports hit 658,207 tonnes, up 5.96 percent month-on-month and 55 percent year-on-year.

Trang Thu Ha, Chief of the VSA Office, attributed the increase in steel sale to export growth, adding that due to the current COVID-19 outbreaks in southern localities, steel production and sale will face numerous difficulties in the remaining months of this year.

Nguyen Van Sua, an expert of the steel industry, said that in order to maintain production and employment for workers, many enterprises in the steel industries in particular and many other industries in general have to find ways to promote exports. As in the domestic market, social distancing caused by the pandemic has hindered transportation and construction.

Minister of Industry and Trade Nguyen Hong Dien issued Directive No. 10/CT-BCT dated August 23, 2021 on strengthening management over export and import activities of several products to support production activities and domestic consumption.

Accordingly, the ministry requested the VSA, the Vietnam Steel Corporation and iron, steel and iron ore producers and exporters to consider issues related to input materials, reduce production costs, take measures to increase steel production to meet domestic demand, and limit  the export of products that are in high demand in the domestic market./.