Vietnam steel exports more than double on strong Chinese demand

[Viet]

Vietnamese steel exports more than doubled in June to 882,019 tonnes from 428,361 tonnes in May and remained high in July at 885,366 tonnes, data from Vietnam’s customs showed this month.

China was the key destination for Vietnamese steel in both months, importing 489,685 tonnes in June and 401,930 tonnes in July.


High prices in domestic Chinese markets, an open arbitrage window, the short shipping time compared with other origins such as India and the Middle East, as well as the free trade agreement (FTA) between the Association of South East Asian Nations (Asean) and China meant China was a natural customer for Vietnamese...

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[Viet]

Makes sense to buy steel from us. Cheaper price and higher quality. Why not buy cars from us too? Stop buying Tesla.

 

[Globenim]

YtD Vietnam exported 1.458.564 tons of iron and steel to China at CNY 2.771 per ton
YtD Vietnam imported 3.461.007 tons of iron and steel from China at CNY 4.378 per ton

Makes sense since you cant satisfy every need with cheap labour. Vietnam depends on Chinas and others higher quality steel and economical production capabilities.

 

[Srinivas]

Chinese GDP shrank by approx 7% and their food supplies are dwindling.
8 Millions people are unemployed, 1 million jobs in manufacturing got evaporated add to that Winnie the pooh asked students to migrate to villages and find work there(1 million of them).
Now CPC has started a campaign to eat frugally, imported 30 % of food supplies.

Where exactly is the growth in China, even if they buy steel they what exactly they are going to build. They have already built enough. China will become a market for other countries to export. Internal growth and service industry based growth are not seen as favorable in Chinese economy.

In short China is in for tough times for atleast 3 years, there also a financial bubble that is going to burst because of lack of exports.

 

[casual]

Chinese GDP shrank by approx 7% and their food supplies are dwindling.
8 Millions people are unemployed, 1 million jobs in manufacturing got evaporated add to that Winnie the pooh asked students to migrate to villages and find work there(1 million of them).
Now CPC has started a campaign to eat frugally, imported 30 % of food supplies.

Where exactly is the growth in China, even if they buy steel they what exactly they are going to build. They have already built enough. China will become a market for other countries to export. Internal growth and service industry based growth are not seen as favorable in Chinese economy.

In short China is in for tough times for atleast 3 years, there also a financial bubble that is going to burst because of lack of exports.

You are free to form your own analysis. Those growth and unemployment numbers are the envy of the world right now. Cutting food waste is also something we should all aspire to. Cheers.

 

[IblinI]

Chinese GDP shrank by approx 7% and their food supplies are dwindling.
8 Millions people are unemployed, 1 million jobs in manufacturing got evaporated add to that Winnie the pooh asked students to migrate to villages and find work there(1 million of them).
Now CPC has started a campaign to eat frugally, imported 30 % of food supplies.

Where exactly is the growth in China, even if they buy steel they what exactly they are going to build. They have already built enough. China will become a market for other countries to export. Internal growth and service industry based growth are not seen as favorable in Chinese economy.

In short China is in for tough times for atleast 3 years, there also a financial bubble that is going to burst because of lack of exports.

I certainly can write a hollowing paragraph in regard of India economic but we usually don't look back.
ps: we are collapsing since 90s according to many countries, get in the queue.

 

[Figaro]

Chinese GDP shrank by approx 7% and their food supplies are dwindling.
8 Millions people are unemployed, 1 million jobs in manufacturing got evaporated add to that Winnie the pooh asked students to migrate to villages and find work there(1 million of them).
Now CPC has started a campaign to eat frugally, imported 30 % of food supplies.

Where exactly is the growth in China, even if they buy steel they what exactly they are going to build. They have already built enough. China will become a market for other countries to export. Internal growth and service industry based growth are not seen as favorable in Chinese economy.

In short China is in for tough times for atleast 3 years, there also a financial bubble that is going to burst because of lack of exports.

Hmmmm ... it looks like India's economy is going to contract 25%.

Indian economy expected to contract by around 25 per cent in the first quarter of FY'21: Report

Despite a 40 per cent drop in manufacturing and minimal activity in the service sector, the higher expenditure by states and the central government in a bid to contain the pandemic and support the weaker section is expected to rein in the contraction in the economy.

economictimes.indiatimes.com

 

[Srinivas]

Hmmmm ... it looks like India's economy is going to contract 25%.

Indian economy expected to contract by around 25 per cent in the first quarter of FY'21: Report

Despite a 40 per cent drop in manufacturing and minimal activity in the service sector, the higher expenditure by states and the central government in a bid to contain the pandemic and support the weaker section is expected to rein in the contraction in the economy.

economictimes.indiatimes.com

Indian economy will rebound, The way Indian economy structured makes it bounce back in a short time.
China is export driven, India is services and agriculture based. There is a difference there.

 

[Globenim]

Indian economy will rebound

If you havent rebound like China already did maybe you should spend more time on providing real services or planting sweet potatoes. Indias huge troll armies dont appear in its cooked books.

 

[8888888888888]

Look like Vietnam imports cheap lower quality steel and reprocess them into higher ones to sell to the market, it's probably cheap enough that some Chinese capitalists buys them.

 

[Kai Liu]

Indian economy will rebound, The way Indian economy structured makes it bounce back in a short time.
China is export driven, India is services and agriculture based. There is a difference there.

The trade to GDP ratio of China and india have no difference... Why you think China is 'export driven'? while india is not? lol...

List of countries by trade-to-GDP ratio - Wikipedia

en.wikipedia.org

China is the only large economy which will have positive growth rate. Other economies are all contracting...

China back to normal? See from your own eyes.

The only large economy to have positive growth this year: https://www.imf.org/en/Publications/WEO/Issues/2020/06/24/WEOUpdateJune2020 And yes, IMF is serous: ~30 million annual car sales achievable as car sales rise again for 3 consecutive months...

defence.pk

Especially india with its bad management of the covid19, will be stuck in contraction forever...

 

[Kai Liu]

Look like Vietnam imports cheap lower quality steel and reprocess them into higher ones to sell to the market, it's probably cheap enough that some Chinese capitalists buys them.

Mr.Viet @Viet always want to make his country look good... Especially everytime when he says B.S. like exporting vn cars to China, I can't stop laughing so badly....

 

[CAPRICORN-88]

Chinese GDP shrank by approx 7% and their food supplies are dwindling.
8 Millions people are unemployed, 1 million jobs in manufacturing got evaporated add to that Winnie the pooh asked students to migrate to villages and find work there(1 million of them).
Now CPC has started a campaign to eat frugally, imported 30 % of food supplies.

Where exactly is the growth in China, even if they buy steel they what exactly they are going to build. They have already built enough. China will become a market for other countries to export. Internal growth and service industry based growth are not seen as favorable in Chinese economy.

In short China is in for tough times for atleast 3 years, there also a financial bubble that is going to burst because of lack of exports.

As i see it, the latest statistics are indicating the opposite.

China exports hit $237.6bn value in July, 7.2% jump year-on-year, trade surplus jumped to $62.3bn

China exports hit $237.6bn value in July, 7.2% jump year-on-year,trade surplus jumped to $62.3bn WRITTEN BY LLB FINANCE REPORTER August. 26 2020 Chinese trade was severely hit after the coronavirus outbreak as the authorities locked down major cities to slow the virus spread. However, with...

defence.pk