Vietnam's steel output to increase by 20-22% in 2018
2018-07-17 16:51:17 [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 USD1.76 billion, up by 41.9% and 57.8% YOY respectively. Vietnam mainly exported iron & steel to ASEAN nations, including 491,000t to Cambodia (up by 48.4% YOY), 301,000t to Indonesia (up by 25.4% YOY) and 292,000t to Malaysia (up by 99% YOY). Besides, it exported 368,000t to U.S. (up by 104% YOY) and 286,000 to E.U. (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.
By late May of 2018, its total export of iron & steel reached 2.36 million tonnes with gross export of USD1.76 billion, up by 41.9% and 57.8% YOY respectively. Vietnam mainly exported iron & steel to ASEAN nations, including 491,000t to Cambodia (up by 48.4% YOY), 301,000t to Indonesia (up by 25.4% YOY) and 292,000t to Malaysia (up by 99% YOY). Besides, it exported 368,000t to U.S. (up by 104% YOY) and 286,000 to E.U. (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.
