Vietnam’s metal trade is predicted to get better this yr with rising export orders, due to improved world demand and surging home consumption.
Market chief Hoa Phat Group final month exported over 12,000 tonnes of merchandise, largely cold-galvanized metal, to North and South America.
This adopted an export of 10,000 tonnes in January to Belgium and Spain.
The corporate targets producing 300,000-400,000 tonnes of metal merchandise this yr, 30-40 % of that are prone to be exported.
Its competitor Hoa Sen Group final month set a brand new export document of 121,000 tonnes of galvanized metal price greater than $100 million. The group has a community of over 85 international locations and territories, with major markets being the U.S, Mexico, Europe, and Southeast Asia.
Vietnam’s metal trade is predicted to see progress of 5-6 % this yr, with world demand set to rise by 4.1 % due to a restoration in developed markets, in line with the Vietnam Metal Affiliation (VSA).
Different drivers for progress embrace expectations of rising public funding in infrastructure, the restoration of the actual property market and extra international direct funding, stated VSA deputy chairman Trinh Khoi Nguyen.
The trade began 2021 strongly, with a 61 % year-on-year rise in manufacturing quantity to 2.65 million tonnes.
Home gross sales within the interval rose 55 % to 2.12 million tonnes, whereas exports rose 53 % in worth to $553 million.
These figures point out sturdy restoration prospects this yr after VSA noticed half of its members reporting plunging revenues final yr, particularly within the first and second quarter, because of Covid-19 impacts.
Nonetheless, commerce officers have warned that rising safeguard measures might harm the trade.
Final month, Indonesia imposed an anti-dumping responsibility of three.01-49.2 % on Vietnam chilly metal sheets.
In January, Malaysia revised duties on cold-rolled coils of alloy and non-alloy metal from Vietnam to 7.42-33.7 % for the interval between January 24 and Could 23.
The U.S. and Canada have additionally slapped anti-dumping duties on Vietnam’s metal merchandise lately.
The Commerce Treatments Authorities of Vietnam has suggested native steelmakers to diversify their markets to keep away from being punished with such duties.
Nguyen Thi Thu Trang, director of the Vietnam Chamber of Commerce and Trade’s (VCCI) WTO Heart, stated that metal producers want to arrange themselves with data of rules on worldwide safeguard measures and cooperate with different international locations’ commerce authorities to resolve points.