Vietnam's steel output increased 33.8% year on year in the first quarter

Posted:2021-04-28 10:20:23

According to the data of Vietnam Iron and Steel Association, Vietnam's steel production in the first quarter increased by 33.8% year-on-year to 7.66 million tons, mainly due to the expansion of production capacity, increased sales and exports.

In the first quarter, steel sales and exports reached 6.78 million tons and 1.63 million tons respectively. Compared with the first quarter of 2020, the sales volume increased by 34.7% and the export volume increased by 59.5%.

Vietnam Steel Association attributed the huge sales volume in the first quarter to the improvement of the global economy, which not only supported the greater demand for steel in the world, but also in Vietnam.

Vietnam Iron and Steel Association also said that Vietnam's steel industry will grow by 5% - 6% in 2021.

According to the data, Vietnam's steel production in March increased by 43.7% year on year to 2.96 million tons, while its sales increased by 59% to 2.88 million tons, and its exports increased by 16.1% to 62.553 million tons.

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