Cambodia Imports 600 Tons of Steel from Vietnam in First Five Months of 2021

• 9 August 2021
• Local News
• 3981 Views

Vietnam exported 584 tons of steel to Cambodia during the first five months of 2021, a year-on-year decrease of 1.5%, reported VN Express news.

Meanwhile, the total export of steel for this country was at 4.1 million tons during this period, or equivalent to the value of US$3.61 billion, a year-on-year increase of 117%

Among the top exporting market, Cambodia ranks fourth after China, the EU, and Mexico.

Steel prices in Vietnam have experienced a 40-50% surge since the beginning of the year, the Ministry of Industry and Trade reported. This has hit construction contractors hard, forcing them to turn down contracts as steel costs account for 10-30% of a construction project.

In 2020, Cambodia’s steel imports fell by 27%, from about US$556 million in 2019 to US$403 million, according to a report by the Ministry of Commerce. (Read more)

• Business and Market
• Economy and Finance