Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Vietnam’s steel exports in May stood at 979,927mt, a surge of 129pc from May 2020, but declined by 4pc from the preceding month, according to the customs data. 


Exports to China in May were up by 104pc to 185,207mt from the prior-year period, but registered a decline of 42pc from April. Prices in China’s steel markets were firm in April and May 2021. Iron ore prices were also on an uptrend on worries over supply disruptions in Brazil and Australia. Cambodia emerged as the second largest importer of steel from Vietnam in the month with 111,150mt, up by 5pc from April but a decline of 14pc from May 2020. 


Top importers

Importing countryMay-21Apr-21



May 2020



China   185,207    320,908 -42pc     90,827 104pc
Cambodia   111,150    105,527 5pc   128,676 -14pc
Thailand     64,967      47,867 36pc     21,679 200pc
United States     63,254      50,964 24pc     10,960 477pc
Malaysia     62,644      81,457 -23pc     45,738 37pc
Belgium     48,640      64,649 -25pc        7,386 559pc
Brazil     44,450         6,840 550pc               –   100pc
United Kingdom     33,043      22,110 49pc     20,695 60pc

Since the beginning of the year, steel prices in Vietnam increased by 40-50pc, impacting the construction sector. Many contractors were even forced to turn down contracts amid bullish raw material prices, according to local media reports. Demand for steel in the domestic market, therefore, came under pressure. In the first five months, the country exported 4.63mn mt of steel, up by 64.48pc from Jan-May 2020. The country’s ferrous scrap imports in the Jan-May period stood at 2.51mn mt. 


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