Vietnam's steel output expected to increase by 6% -8% in 2020

A recent report from the Vietnam Steel Association (VSA)states that Vietnam ’s steel output is expected to increase slightly this year,with a year-on-year increase of about 6% -8%.

The association said that the global steel market has slowedlast year and it is expected that steel consumption will not improve in thefirst quarter of this year.

Vietnam's crude steel output in 2020 is estimated to be closeto 18 million tons, of which hot-rolled output is about 17.1 million tons.

It is expected that Vietnam will continue to importsteelmaking raw materials such as iron ore (nearly 17 million tons) this year.