Vietnam steel consumption is expected to reach 17 million tons in 2017
- Issue Time
According to Vietnam's "economic times" reported on January 19th, according to the Vietnam Steel Association forecast, 2017 Vietnam steel consumption of about 17 million tons, mainly include four types: steel construction steel, cold rolled, galvanized and color coated sheet. In 2016, Vietnam produced 17 million 500 thousand tons of steel, an increase of 16.8%; consumption of 15 million 300 thousand tons, an increase of 23.7%. Annual construction steel increased rapidly, producing 8 million 500 thousand tons, an increase of 18.3%; consumption of 8 million 400 thousand tons, an increase of 20.6%.
Due to the lack of production capacity of hot rolled coil and alloy steel, Vietnam needs to import raw materials and semi-finished products for processing. At the same time, Vietnam also exports a certain amount of steel. 2016, exports $2 billion 400 million, an increase of 18.1%. Export markets are mainly ASEAN countries and the United states.