Vietnam's steel exporters turn sales focus to Asia
16 Aug 2019 14:21 reported by Hazel Chen
Due to increased trade restrictions and more serious competition, Vietnam’s steel producers and exporters were losing market share in the US and Europe, thus they were shifting main sales to the Asian market.
According to the latest statistics, from January to July this year, the volume of Vietnam’s steel exports to the US fell by 42%, and 45% in Belgium.
However, during this period, Vietnam’s steel exports increased by 14%. The largest customer was Cambodia, accounting for 26.7% of Vietnam's total exports. Vietnam’s shipments to all major Southeast Asian countries, such as Malaysia, Indonesia, Thailand and the Philippines, continued to increase.
In addition, Vietnam was also planning to increase its exports to Japan.
Back to Steel News