Home > News > Content
2018 Vietnam's Steel Production Is Expected To Grow By 20-22%
- Jul 19, 2018 -

2018 Vietnam's steel production is expected to grow by 20-22% 

As Vietnam's economy is in a stable stage of development, many real estate projects and transport infrastructure is under construction, Vietnam's steel production industry is showing a good growth trend. By the end of May 2018, iron and steel exports amounted to 2.36 million tonnes, exports amounted to 1.76 billion U.S. dollars, exports and export volume increased by 41.9% and 57.8% respectively. Vietnam's main export market for steel is ASEAN, of which Cambodia 491,000 tons, grew 48.4%; Indonesia 301,000 tons, growth 25.4%, Malaysia 292,000 tons, growth 99%. 

In addition, the United States 368,000 tons, an increase of 104%, the European Union 286,000 tons, the year-on-year growth of 146%. 

In the first half of 2018, production output of crude steel, steel rolling, steel bars and other products grew by 43.7%, 5.3% and 16% respectively. It is expected that in the second half of 2018, Vietnam's steel industry will continue to maintain a good growth trend, is expected to grow 20% year-on-year. 

Among them, construction steel production growth 10%, cold-rolled coil growth 5%, welding steel growth of 15%. 

Viet Nam Heging Formosa Group plans to put 2nd BF (annual average power of 4 million tonnes) into production in the second half of 2018, and plans to increase annual production capacity by twice times (7.008 billion tons), which will help to promote the strong growth of hot rolled coils, an increase of 154% year-on-year. In addition, according to the plan, some projects will be put into operation this year. In particular, Viet Nam and the group will launch 600,000 tonnes of steel rolling in August 2018; Vietnam's east and steel companies are also planning to launch 600,000 tonnes of construction steel in the second half of the year.