HÀ NỘI — Việt Nam’s import value for steel and iron products continuously surged sharply in the first month of 2017 to US$710 million, the General Statistics Office reported. The value rose by up to 30 per cent against the same period last year. Last year, the import value of steel and iron products was also high at $8 billion, up 7.3 per cent against the previous year. As a large steel import volume from China has caused major damage to domestic steel production, the Ministry of Industry and Trade has decided to apply trade defence measures to ensure fair competition with local products and promote the country’s steel sector. The steel industry is likely to enjoy 10-12 per cent growth next year, said the Việt Nam Steel Association.

Source: Viet Nam News February 08, 2017 04:51 UTC