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Statistics of Vietnam's steel volume exported to US in 8 months 2023

Statistics of Vietnam's steel volume exported to US in 8 months 2023

BlogDate: 19-10-2023 by: Ngan Le

In the 8 months of 2023,Vietnam’s steel volume exported to the US has seen a significant increase, including main products such as galvanized steel and construction steel. In the face of challenging weak steel consumption demands, the increase in export production reflects the continuous efforts of the Vietnamese steel industry to improve product quality and establish its position in the international market.

Recent overview of Vietnam's steel volume exported to the US

According to statistics from the Customs Department, Vietnam's steel volume exported to the US tripled the amount of steel imported from the U.S in June 2023. This stands out as a special spot in the context of sluggish steel exports from the country in the first half of this year when the major markets like Europe and China are experiencing stagnation due to declining construction and real estate markets.

In the steel export sector, the U.S. market continues to show great potential, accounting for 8% of Vietnam's steel exports in 2022, ranking fourth among Vietnam's steel export destinations alongside ASEAN, the EU, and China. In the first 7 months of 2023, according to the General Department of Customs, the U.S. market was among the top 3 largest importers of iron and steel from Vietnam, with a value of $386 million. As the U.S. begins to show signs of economic recovery, particularly in the reconstruction of factories and homes, Vietnamese steel enterprises have seized the opportunity to boost their export volume to this large market.

The Vietnam's galvanized/galvalume (GI/GL) steel volume exports

In the past 8 months of 2023, the export volume of galvanized (GI) steel to the U.S. exceeded 37,000 tons, generating a total value of over $36 million. Hoa Sen Group ranked as the top enterprise exporting GI steel products to the U.S. with nearly 10,000 tons. Besides Hoa Sen Group, Ton Đong A Group also showcased its exceptional strength in the U.S. market, exporting over 6,500 tons of GI steel in the past 8 months.

The statistic about top Vietnamese galvanized exporters to the US in 8 months of 2023

In addition to GI steel, the export volume of galvalume (GL) steel was also impressive, reaching 86,000 tons in the first 8 months of 2023 with a value of $89.6 million. Among the enterprises exporting GL steel, Ton Đong A Group stood out, exporting nearly 75,000 tons, capturing an 86% share of the overall market for GL steel exports to the U.S.

The statistic about top Vietnamese galvalume exporters to the US in 8 months of 2023

Galvanized steel products have long been a strength of Vietnamese steel mills, produced on modern steel coating lines that ensure uniform and high-quality coatings, meeting international standards including ASTM from the U.S. Thanks to ongoing technological investments in production, Vietnamese GI steel is gaining a strong foothold in major markets like the United States.

The volume of Vietnam's PPGI/PPGL exports

The export volume of galvanized steel products to the U.S. in the past 8 months exceeded 32,400 tons, with a total value of over $48 million. Ton Dong A Group led the way, exporting more than 13,200 tons, primarily in the form of pre-painted galvalume (PPGL). Other major steel exporters in this category included Nam Kim and Hoa Sen, with export volumes of 7,300 tons and 6,900 tons, respectively.

The statistic about top Vietnamese PPGI/PPGL exporters to the US in 8 months of 2023

The U.S. market demands strict quality standards for steel products, so successful Vietnam’s steel exports to the US require careful investment in the production process. Most large-scale steel mills in Vietnam, such as Hoa Sen, Ton Nam Kim, and Ton Đong A, have integrated coating technologies to ensure consistent coating quality, flatness control, and optimization.

The volume of Vietnam's construction steel exports

The export volume of construction steel to the US mainly includes two key products: rebar and wire rod. Among them, rebar had a total export volume of over 15,600 tons for the entire industry. Leading the way in steel exports were Hoa Phat Group, which supplied over 10,000 tons of steel to the U.S. in the first 8 months of 2023, capturing over 60% of the market share.

The statistic about top Vietnamese construction steel exporters to the US in 8 months of 2023

Trade activities in the steel sector between Vietnam and the US have consistently been positive despite trade investigations. The US remains one of the most important export markets for Vietnam's steel industry each year. The ramped-up Vietnam’s steel volume exported to the US have to some extent addressed the challenging issue of steel consumption needs for Vietnamese factories, aligning with the trend of diversifying investment activities in the country.