Vietnam's steel import rises sharply in 5 months

Vietnam spent over 4.6 billion US dollars importing more than 6 million tons of steel and iron in the first five months of this year, up 37.9 per cent in value and 9.2 per cent in volume against the same period last year, according to the country's General Statistics Office on Wednesday.

China was the largest supplier, followed by Japan, South Korea and India, the office said.

In May alone, Vietnam imported 1 million tons of the products worth 913 million US dollars, declining 5 per cent in volume but up 43.6 per cent in value year on year, according to the office, Xinhua reported.

In 2020, Vietnam spent nearly 8.1 billion US dollars importing 13.4 million tons of steel and iron, down 15.2 per cent in value and 8.2 per cent in volume against 2019.