The country produced over 24.8 million tonnes of steel during the period, nearly 22 million tonnes of which were sold, up 34.1% and 32.5%, respectively, year on year.
In the third quarter alone, steel output reached nearly 7.16 million tonnes, up 4% year on year, while steel sales slid 7% to over 6.2 million tonnes, as a result of social distancing measures imposed to stamp out the spread of COVID-19 in many major industrial cities and provinces.
The VSA reported that though Vietnam’s nine-month steel imports edged up just 1% in volume, to 14.9 million tonnes, the value surged 44% to US$11 billion.
The association forecast the steel exports will regain growth momentum during the remaining months of the year following the removal of COVID-19 restrictions.
The steel industry also expects the new-generation Free Trade Agreements (FTAs), in which Vietnam is signatory to, and the recovery of production and construction will further fuel the growth