Imported steel rolls at a port in District 7 in Ho Chi Minh City. (Photo: SGGP)

Imported steel floods into Vietnam

Global steel capacity is forecast to be excessive so steel has been pouring into the Southeast Asia region. Risk of excess supply along with difficulties in export markets has made it possible for domestic steel industry to experience a cutthroat competition for market share right on the home ground.
Vietnam is estimated by VSA to be the largest steel manufacturer in ASEAN (Photo: SGGP)

Steel consumption, export highly hike

Vietnam Steel Association (VSA) reported that structural steel export in the first seven months this year reached 541,377 tons, increasing 75 percent compared to the same period last year.