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Vietnam’s steel production down in Jun m-o-m

5 Aug 2022 16:03 reported by Stanley Wang

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According to data from Vietnam Steel Association (VSA), in June, Vietnam’s steel output was about 2.4 million tons, decreasing by 12.85% compared to the previous month. Meanwhile, the steel sales were 2.25 million tons, a month-on-month decrease of 4.83%.

In the second quarter, Vietnam produced steel with 8.1 million tons, sliding by 3.3% year on year. In the first six months of this year, Vietnam’s steel production totaled 16.57 million tons, dropping by 2.4% year on year.

Although Vietnam’s Gross Domestic Product (GDP) in the first half increased by 6.42% year on year, the domestic steel demand was low, reflecting worries about the global economic recession.

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