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2.5. Steel production and consumption export:

In 2022, total steel production will reach 29.34 million tons, down 11.88% compared to 2021; Total steel consumption of all kinds reached 27.3 million tons, down 7.23% compared to 2021.

Table 10: Summary of steel production - consumption data in 2022

- Exports:

Steel export turnover in 2022 reached 8.4 million tons equivalent to 7.9 billion USD with a decrease of 35.8% in volume and 32.2% in value compared to 2021.

About export markets

Export markets including the ASEAN market area reached 3.54 million tons, equivalent to 2.9 billion USD, down 7.3% in volume and 6.3% in value compared to 2021 (steel exports to ASEAN accounted for 36.2% of exports of the whole industry). The EU market reached 1.37 million tons, equivalent to nearly 1.5 billion USD, down 16% in volume and 22.1% in value. Iron and steel exports to the US market reached 681.8 thousand tons, equivalent to 845.1 million USD, compared to 2021, it decreased by 34.9% in volume and 37.9% in value. In particular, exports to China only reached 99.1 thousand tons, equivalent to 65 million USD, compared to 2021, recording a very sharp decrease of 96.2% in volume and 96.1% in value.

Some steel export markets have positive growth such as: Korea reached 468.5 thousand tons, equivalent to 543.6 million USD, compared to 2021, up 23.5% in volume and 69.4% in value. Exports to Hong Kong (China) market reached 431.2 thousand tons, worth $ 327.9 million, compared to 2021, up 22% in volume and 33.3% in value.

The Australian market and the Indian market recorded strong increases; in which exports to the Australian market reached 202.6 thousand tons, equivalent to 208 million USD, recording an increase of 95.8% in volume and 102.8% in value compared to 2021; The Indian market reached 187.8 thousand tonnes, or USD 171.0 million, compared to 2021 recording an increase of 231.1% in volume and 110.9% in value.

In terms of export categories

Coiled steel, galvanized steel, steel bar, steel plate and color coated steel are the most exported steel items in 2022. In particular, coiled steel exports accounted for the most, reaching 2.1 million tons with a turnover of 1.6 billion USD, accounting for 26.1% of Vietnam's total steel exports, corresponding to a decrease of 9.8% in volume and 7.36% in turnover compared to 2021. Next is galvanized steel exports reached 1.4 million tons equivalent to 1.5 billion USD, down 8.1% in volume and 5.6% in value. Steel bars reached 1.1 million tons equivalent to 826.6 million USD, down 5.9% in volume and 4.9% in value. Steel plate reached 715.6 thousand tons, or $ 1.1 billion, with a decrease of 6.3% and 7.0%.

Table 12: Some steel export items of Vietnam, 2022

- Review:

2022 is considered a difficult year for the steel industry. The export market fell sharply due to the negative situation in the world market for the industry. Domestic demand also fell sharply and some large enterprises in the industry had to cut production, some had to stop steelmaking furnaces due to large inventories and difficulties in product consumption.

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