Import of iron and steel continued to set a record, after only the first 2 months of the year, but foreign currency spending on imports exceeded 2.1 billion USD, up 34.5% over the same period in 2021, with an output of more than 2 million USD. tons (down 10.1%).

If including imports of steel products in 2 months reached 835 million USD, up 13.5% over the same period, imports of steel and steel products were approximately 3 billion USD.

Import of steel and products from iron and steel jumped to nearly 3 billion USD after the first 2 months of 2022.

Iron ore futures on the Dalian Commodity Exchange for delivery in May 2022, rose for the fifth consecutive session and rose 5.7% to 836 yuan ($132.28) per ton.

Ukraine and Russia are important exporters of iron materials in the world. Political conflicts between these two countries also affect iron ore prices in the near future.

Domestic demand for iron and steel has increased sharply last year. Despite the epidemic, the domestic demand for iron and steel is still increasing, according to the statistics of the General Department of Customs, in 2021, Vietnam's iron and steel imports will reach 12.31 million tons, equivalent to 11.52 billion USD. , down 7% in volume, but up 42.8% in turnover compared to 2020. The average import price of iron and steel in 2021 is 935.8 USD/ton, up 53.8% compared to 2020.

Iron and steel of all kinds imported to Vietnam originated from China, accounting for 40.3% of the total volume and 38% of the total import turnover of iron and steel of the country, reaching 4.96 million tons. , worth USD 4.38 billion, with an average price of USD 882.2/ton, increasing both volume, value and price compared to 2020, with an increase of 32%, 79.9% and 36.3% respectively.

Japan is the second largest market with 1.89 million tons, worth 1.73 billion USD, average price 913.6 USD/ton, down 22.8% in volume, but up 23.8% in turnover. , up 60.3% in price compared to 2020.

The Korean market ranked third with 1.48 million tons, worth 1.59 billion USD, the average price was 1,074 USD/ton, down 16.5% in volume, up 24.4% in turnover, up 49%. in terms of prices compared to 2020.

In general, in 2021, iron and steel import turnover from most markets increased sharply compared to 2020.

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