The United States is Vietnam's largest steel export market.

According to data from the General Department of Customs, the average cumulative export price of iron and steel from the beginning of 2024 to August 15 decreased by 5.6% compared to the same period, to 732.9 USD/ton. This caused Vietnam's iron and steel export turnover to increase by only 13% compared to the same period, reaching 5.9 billion USD.

In general, Vietnam's steel exports have been consistently high in the first months of the year, with the exception of February and June, reaching over one million tons in the remaining months. In the first 15 days of August 2024 alone, steel exports reached 531,780 tons.

The United States is Vietnam's largest steel export market. Photo: Investment Newspaper

In the markets, also according to data from the General Department of Customs, the volume of iron and steel exported in July 2024 was 1.04 million tons, up 5% over the previous month; the value was 775 million USD, up 5%. In general, the volume of iron and steel exported in the first 7 months of 2024 reached 7.52 million tons, up 17.7% and the value reached 5.54 billion USD, up 11.1% over the same period last year.

In the first 7 months of 2024, the United States was Vietnam's largest iron and steel export market with 1.11 million tons, an increase of 89% over the same period last year.

Italy is the second largest iron and steel export market of Vietnam with 922,692 tons, but decreased by 12% compared to the same period last year. Cambodia ranked third with 674,948 tons, up 2.9% compared to the same period last year.

In the ASEAN bloc, in addition to Cambodia, Vietnam also exported iron and steel to five other markets. Including, exporting iron and steel to Malaysia with 499,485 tons, up 3.2% over the same period last year; Indonesia with 356,492 tons, down 1.4% over the same period last year; Singapore with 157,214 tons, up 46% over the same period last year. Vietnam also exported iron and steel to the Philippines with 144,962 tons, down 3.2% over the same period last year and Thailand with 103,843 tons, down 49.3% over the same period last year.

In terms of turnover, in the first 7 months of 2024, iron and steel exports to the US reached 923 million USD, up 91.3% over the same period last year. Following behind was Cambodia with 427 million USD, down 6% over the same period last year; Italy with 578 million USD, down 23.9% over the same period last year...

In the ASEAN bloc, steel exports to Indonesia reached 237 million USD, down 10.6% year-on-year; to Malaysia reached 342 million USD, down 1% year-on-year; to Thailand with 90 million USD, down 48% year-on-year. Steel exports to the Philippines reached 75 million USD, down 16.6% year-on-year; to Singapore reached 84.9 million USD, up 30% year-on-year.

Source: https://congthuong.vn/hoa-ky-la-thi-truong-xuat-khau-sat-thep-lon-nhat-cua-viet-nam-342005.html