SUMMARY
 
Main highlights of the steel industry in Q1-2024:
World steel prices dropped sharply. But export prices and domestic prices are still higher than at the end of 2023.
The business performance of steel enterprises continued to improve compared to the same period last year, mainly thanks to exports. Specifically, industry-wide exports increased in both quantity and value. Meanwhile, domestic consumption remains weak. Total domestic consumption output in Q1 of VSA members still decreased by 1.5% compared to the low base of Q1/2023.
The issue of cheap steel from China and India "flooding into" Vietnam is raising many concerns in the steel business community, especially for groups that produce HRC.
 
Outlook: Growth motivation still depends on exports. Export output may remain positive, especially Vietnam's steel exports may benefit from Europe's control of imports of semi-finished steel originating from Russia. However, it should be noted that the increase may narrow compared to Q1.
 
TABLE OF CONTENTS
 
A. GENERAL PERCEPTION

B. THE WORLD'S CRUDE STEEL SUPPLY

C. VIETNAM & WORLDWIDE STEEL PRICE PERFORMANCE 

D. SITUATION OF STEEL MARKET IN VIETNAM
Overview of Production - Consumption of domestic steel
Production situation of each item
The situation of steel consumption in the whole country & of VSA member enterprises
Export situation of the whole industry
Import situation of the whole industry