Chinese Steel Imports Continue to Surge in Jan-May
Vietnam reportedly imported roughly 450,000 tons of construction steel from China in the first five months this year, a rise of 150 per cent on-year, the Thoi Bao Kinh Te newspaper reported.
In May, Vietnam bought an estimate of 100,000 tons of steel from the neighboring country, the newspaper cited the General Statistics Office (GSO).
In the five-month period, it imported a total of 5.6 million tons of steel and iron, valued at US$4.15 billion, up 137.8 per cent on-year, of which, steel ingots accounted for 1.772 million tons worth US$1.25 billion, a rise of 223.6 per cent on-year.
According to the Vietnam Steel Association, with the imported ingot plus stockpiled volume, steel supply can not be in shortage in the next two months. (Vietnam Economic Times, GSO May 2008)
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