| Export volume of iron and steel increased, turnover decreased. Iron and steel imports in August 2023 reached the highest level since March 2023. |
According to statistics from the General Department of Customs, in September 2023, Vietnam imported 1.4 million tons of iron and steel worth 996 million USD, up 9.1% in volume and 6.3% in value compared to August 2023. Compared to the same period last year, the volume and value increased by 89% and 40% respectively.
In the first 9 months of 2023, Vietnam imported 9.33 million tons of iron and steel worth 7.53 billion USD, up 4.4% in volume but down 21.3% in value over the same period last year.
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| In the first 9 months of 2023, Vietnam imported 9.33 million tons of iron and steel worth 7.53 billion USD. |
In the first 9 months of 2023, Vietnam imported iron and steel mainly from the Chinese and Japanese markets. Of which, 5.5 million tons of iron and steel were imported from China with a turnover of 3.88 billion USD, up 38% in volume but down 4.1% in value compared to the same period last year. The volume and value of iron and steel imports from China accounted for 59% and 51% of Vietnam's total imports, respectively.
The amount of iron and steel imported from Japan reached 1.46 million tons, one of the two main markets that Vietnam imported iron and steel in the first 9 months of 2023, reaching over 1 million tons. The import turnover of iron and steel from Japan reached 1.11 billion USD. Compared to the same period last year, the volume and value of iron and steel imports from this market increased by 5.8% and decreased by 19.4%, respectively.
According to statistics from the Vietnam Steel Association, domestic construction steel sales reached 958,560 tons, up 9% over the previous month and 4% over the same period last year. This is also the highest recorded monthly construction steel sales volume since the beginning of 2023.
Also in September 2023, construction steel production reached 876,043 tons, down 6% compared to the previous month and down 20% compared to September 2022; Sales reached 958,560 tons, up 9% compared to the previous month and up 4% compared to the same period last year.
9 months of 2023: Construction steel production reached 7.722 million tons, down 21.6% over the same period in 2022; Sales reached 7.738 million tons, down 20% over the same period in 2022. Of which, exports reached 344,676 tons, down 12.9% over the same period in 2022.
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