Vietnam's steel imports rise 44 percent in April

Vietnam raised its imports of steel products 44.3 percent year on year to 1.59 million tons in April, according to data released by Vietnam customs.

China remains Vietnam's largest supplier of steel products, accounting for 54.2 percent of Vietnam's total steel imports for the month.

Other key suppliers in April were Japan with 256.236 million tonnes (up 8.7 percent year-on-year) and South Korea with 139.433 million tonnes, up 6.1 percent year-on-year.

The Vietnamese Ministry of Industry and Trade decided on April 29 to raise anti-dumping tax rates on cold-rolled stainless steel imports from China and Indonesia, and to lower the rate on those stainless steels from Malaysia, while keeping Taiwan unchanged.

In the first four months, Vietnam imported 6.21 million tonnes of steel products, increasing imports by 56.5 percent year on year, mainly from China to 3.699 million tonnes, up 60.9 percent year on year. At the same time, Vietnam exported 251.647 million tons of steel products in April, raising exports by 26.3 percent year on year.