Iron and steel enjoys export growth

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Specifically, after two months of slight decrease, exports of iron and steel products saw significant improvement in March 2019 with a value estimated at USD280 million, a 60.3% rise from the previous month and a 6.8% increase from the same period last year. This figure contributed to raising the export value in the first three months of the year to USD744 million, a year-on-year increase of 5.8%.

The US, the EU and Southeast Asia are the key export markets with a density of 55%. In addition, Vietnam also shipped iron and steel products to other markets like Japan, the Republic of Korea and India.

The Ministry of Industry and Trade said that the result is owing to the growth impetus of 2018 and big export contracts of some companies in the first months of 2019, including the lunar New Year holiday.

Notably, Hoa Sen Group signed a contract to ship 4,300 tons of corrugated iron to some American countries, valued at USD3.7 million, and a batch of 17,000 tons of corrugated iron from Nghi Son International Port to the US, valued at more than USD14 million.

Hoa Phat Group announced a shipment of nearly 1,000 tons of steel pipes to India, worth over USD600,000. In addition, in the first quarter, the group also opened the year with many export orders to the US and Canada./.