Vietnam’s crude steel production in January dropped by 15.1pc from a year ago while steel bars production rose by 23.5pc, according to Vietnam’s General Statistics Office (GSO).
Vietnam’s National Index of Industrial Production (IIP) dipped by 5.5pc from the prior year and 11.8pc from the prior month predominately due to Lunar New Year holiday at the end of January.
Output reduced in the mining and quarrying sector by 12.9pc and manufacturing sector was down by 4.8pc. Meanwhile, production of metal ore increased by 34.3pc in January from the prior year. GSO expects industrial production to recover soon as employment has improved in Vietnam’s processing and manufacturing businesses and the power sector.