According to statistics, Vietnam's steel imports rose significantly in October, reaching approximately 1.52 million tons, a month-on-month increase of 33.5%. The value of these imports hiked by 23.9% to about US$996.4 million.

This increase was mainly driven by Chinese supply, which soared by 74.3% to 1.03 million tons in October. In contrast, supplies from countries of the Association of Southeast Asian Nations (ASEAN) like Indonesia and Malaysia decreased.

In spite of the monthly surge in October, the imports in the first ten months were down by 13.5% year on year to about 12.7 million tons.

In terms of exports, the volume in October fell by 12.4% month on month to roughly 677,000 tons. The exports in the January-October period had a 22.3% decline compared to the corresponding period a year ago, totaling 8.6 million tons.