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According to data from the General Administration of Customs, Vietnam's steel imports from January to February were 2.65 million tons, an increase of nearly twice compared to the same period last year; Among them, 1.8 million tons were imported from China, with an import volume three times that of the United States and an import amount 2.4 times that of the United States SPHF steel. In terms of variety, the import volume of hot coils is 1.89 million tons, with an import value exceeding 1 billion US dollars; Among them, 1.4 million tons were imported from China, accounting for 74.2% of the total import volume.
In 2023, Vietnam's SPHF steel imports amounted to 13.8 million tons (including temporary import transshipment, imports to export processing zones, etc.), an increase of 3.2% from 2022 and 11% from 2021. In terms of variety, hot coils account for 73% of the total steel imports, with an import volume of up to 10 million tons, a year-on-year increase of 2.84%. Next is construction steel, with an import volume of up to 1.3 million tons, an increase of 7.8% from 2022 and 33% from 2021. The import volume of galvanized steel was 1.16 million tons, a year-on-year increase of 20.68%. In terms of import sources, Vietnam has a high concentration of imports, with imported steel mainly coming from China SPHF steel, Japan, and South Korea, accounting for 62%, 14.3%, and 8.3% respectively.
