Import Market Overview in January 2024 

- In January 2024, Vietnam imported about 1.488 million tons of steel, an increase of 27.25% compared to December 2023 and an increase of 2.5 times over the same period last year in import volume. Import value reached more than 1,059 million USD, an increase of 22.3% over the previous month and doubled over the same period in 2022.

- The main steel supplier countries to Vietnam in January 2024 include: China (67.6%), Japan (9.12%), Korea (6.42%) and ASEAN (5.11 %) 

Top 10 countries supplying steel to Vietnam in January 2024

(Source: VITIC calculated from data from TCHQ, VSA)

Overall import situation in 2023:

- Vietnam imported about 13.33 million tons of finished steel products worth more than 10.425 billion USD, up 14.07% in volume but down 12.55% in value over the same period last year.

- Countries mainly supplying steel to Vietnam in 2023 include: China (62.18%), Japan (14.36%), Korea (8.31%) and ASEAN (5.43% )

Top 10 countries supplying steel to Vietnam in 2023

(Source: VITIC calculated from data from TCHQ, VSA)