Vietnam’s steelmakers exported huge volumes of steel to China in the first five months of 2020.

[fadine]

Vietnam exported an unexpectedly high volume of billets to China during the first five months of the current year, according to the Vietnam Steel Association. Vietnam’s steel exports to China in the given period amounted to 570,000 mt, mostly billets, indicating a 540,000 mt increase compared to the same period last year. Exporting steel, particularly billet, to China is a good signal for the Vietnamese steel industry.

Vietnam Steel Association chairman Nghiem Xuan Da stated that the amount of steel billet exported to China increased sharply with the great contribution of Hoa Phat Group. Meanwhile, Formosa Ha Tinh produces steel billet and finished steel products, while it sells 80 percent of its products in Vietnam and the rest is allocated for export.

Previously, Vietnam imported steel from China, now it is the opposite. Soon all goods in China were marked "Make in Vietnam".

 

[Yukihime]

Our viet friends still havent learned how to include legit source of the information...

Trade with China has always been cirtically important to Vietnam economic for hundreds of years and people would not be surprised to see the case going on.
What's more, the importance of Chinese market will become increasingly critical in foreseeable future while Chinese market as one of the ONLY TWO WORLDS LARGEST SINGLE MARKETS keeps growing.
Vietnam business corporations should try their best to fit to the Chinese market and seek more oppotunities.

And finally, good luck~

 

[艹艹艹]

Previously, Vietnam imported steel from China, now it is the opposite. Soon all goods in China were marked "Make in Vietnam".

According to customs data, in the January-May period Vietnam’s iron and steel exports increased by 3.1 percent to three million mt, while the country’s iron and steel imports in the period totaled 3.36 million mt, including 1.9 million mt from China.

https://www.steelorbis.com/steel-ne...ge-in-jan_may-due-to-billet-sales-1152684.htm

 

[PeacefulWar]

No tariffs for steel?
It's not a bad thing for both countries anyway.

 

[grey boy 2]

According to customs data, in the January-May period Vietnam’s iron and steel exports increased by 3.1 percent to three million mt, while the country’s iron and steel imports in the period totaled 3.36 million mt, including 1.9 million mt from China.

View attachment 646582

https://www.steelorbis.com/steel-ne...ge-in-jan_may-due-to-billet-sales-1152684.htm

You're so cruel bro

 

[艹艹艹]

You're so cruel bro

 

[volatile]

Im sure days of exporting/importing billets are limited since energy requirements are huge to convert mostly converters are now going for inline process

 

[Song Hong]

China herself has a very serious steel production overcapacity. Is China bailing out Vietnam?

 

[fadine]

Well, I'm not going to say that Vietnam's steel industry is stronger than China, I just want to say tomorrow has started.

 

[Journeyman]

When Hoa Phat's steel plant at Dung Quat goes into operation in the fall of this year, it will add 4 million tons to our capacity

 

[S10]

Why is China buying steel from Vietnam when it produces more than anybody in the world?

 

[PeacefulWar]

Why is China buying steel from Vietnam when it produces more than anybody in the world?

Market competition?
If tariffs is low, probably cheaper import from VN

 

[Samlee]

Wait I Thought China Had The Largest Steel Capacity in The World

 

[FairAndUnbiased]

Wait I Thought China Had The Largest Steel Capacity in The World

different grades. Maybe Vietnam exports dirty mild steel to China while China specializes in 304/316 stainless, maraging steel, etc.

 

[serenity]

Many Vietnamese factories are Chinese owned in share or totally Chinese like Apple factories in China in past are American owned or public but not Chinese unless they have some shares in Apple. Vietnam manufactures grade of steels that Korea China and Japan do not make much of maybe. Different types of steel alloy for different applications. Maybe the purchased ones are much cheaper than Chinese production so it makes sense to buy?