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According to statistics from the General Administration of Customs of Vietnam, the country exported 5.88 million tons of steel in the first half of the year, a year-on-year increase of 50.5%. Steel exports in June rose 4.3% year-on-year to 1.02 million tons. In the context of the recovery of domestic production and the growth of demand in China, ASEAN, Europe and the United States, Vietnam's steel exports in the first half of the year increased significantly, and the prospects are optimistic.

China is the main destination of Vietnam's steel exports, exporting 1.2 million tons to China in the first half of the year, a year-on-year increase of 14%. Vietnam's steel exports to ASEAN countries have also increased. Among them, steel exports to Indonesia, Malaysia, Thailand and the Philippines increased by 53%, 13%, 1.3% and 17% respectively to 339,000 tons, 365,000 tons, 304,000 tons and 280,000 tons. Due to competitive prices, Vietnam's steel exports to European and American countries in the first half of this year, especially flat steel, also increased significantly.

Vietnam's steel imports in the first half of the year increased by 32% year-on-year to 7.09 million tons. Imports from China increased by 60% year-on-year to 3.64 million tons, but imports from India and Japan fell sharply year-on-year.

According to foreign media reports, rising steel prices in Vietnam prompted the Ministry of Finance to propose to lower the import tax on construction steel and impose a 5% tax rate on steel billet exports. The import tax rate for angle steel, die steel and special-shaped steel products is lowered from 15% to 10%, and the import tax rate for non-alloy flat-rolled products is lowered from 20%-25% to 15%.