Steel industry is the important heavy in the industrialized world; therefore, the fluctuations in the industry will directly affect the field of industrial production and impact on the economic growth.
Steel industry in 2017 recovered strongly after 2 years of continuous decline. Global steel production is estimated at x,xxx million tons, up 5.5% from 2016. Asia is currently the world’s main steelmaker, accounting for 69% of total steel output in 2017. China has grown steadily, surpassing India as the third largest steel producer in the world.
It is forecast that demand for steel in 2018 will grow 1.6% to reach x, xxx.x million tons. The strongest growth comes from developing regions, especially Asia. In Q1/2018, the steel market still showed positive growth compared to the same period last year, production and consumption of all commodities grew positively. According to VSA, total steel production in the quarter increased by 25.37% to reach more than x.xx million tons. Hot rolled coil HRC reached x.xxx million tons. Output of finished steel reached over x.x million tons, up 29.27% over the same period. In particular, consumption of construction steel reached x.x million tons (up 7.56%), steel pipes reached x.x million tons (up 11.23%), galvanized sheets reached x.xx million tons (18.83%).
Vietnam steel industry is always in a state of imbalance, excess of crude steel but lack of other steel products due to many product lines in the country are not able to produce, such as steel billets, hot rolled coil sheets, shape steel, steel plate, etc. The domestic machinery and technology are only medium compared to the world, mostly using machinery and technology discharged from China, leading to large energy consumption, low technology and high production cost, resulting to hardly compete with cheap imported steel from China.
In 2018, it is forecast that iron and steel prices have trend not to increase as demand in some regional markets such as China is likely to decrease, while domestic demand will not increase. It is forecast that steel consumption growth in 2018 will be about 22% to xx.x million tons. In which, construction steel will increase by 10%, hot rolled coil 154%, cold rolled coil steel sheet 5%, steel pipe 15%, gold plating and color coating 12%. Accordingly, the output of construction steel reached about xx.xx million tons, steel pipes reached x.xx million tons and galvanized steel reached about x.xx million tons.
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https://www.kenresearch.com/manufacturing-and-construction/construction-materials/vietnam-steel-standard-report/155422-97.html
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