Vietnam’s steel industry faces trade defence measuresAs Vietnam seeks to increase its steel exports amid global overcapacity, the steelmaking industry is expected to face tremendous pressure from trade defence measures deployed by the importing countries. Over the past decade, Vietnam’s steel production capacity has grown substantially from 1.5 million tonnes per year to 21 million in 2016. Vietnam’s current capacity now tops Southeast Asia at more than 30 million tonnes. In 2017, the country’s steel exports were 5.5 million tonnes (up 28.5%), bringing in US$3.6 billion (up 45.4%). Certain types of steel that Vietnam can now produce such, as colour-coated steel, are still imported in high volume.

Source: VietNamNet News May 22, 2018 04:30 UTC