Vietnam’s total steel imports settled at 944,865mt in January, as compared to January 2019.

Overall, imports fell by 18pc, as the country ramped up its crude steel production to 1.53mn mt in January 2020, according to a World Steel report.

While imports from Russia, Brazil and Mexico dropped drastically – 97pc, 90pc and 72pc, respectively, import volumes from France, Hong Kong and India increased. 

French steel imports into Vietnam surged 14.9 times, and those from Hong Kong soared by 823.3pc in January 2020, as compared to Jan 2019.

Steel imports from India in Jan 2020 rose by 661.6pc to 218,043 mt, as compared to Jan 2019.

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