The VSA’s data showed that the country’s steel output was 21.062 million tonnes, up 24.3% against the previous year. 

Domestic steel consumption stood at nearly 18 million tonnes, 20.7% higher than the last year.

Notably, in the year, Vietnam shipped 1 million tones of building steel abroad, a year-on-year increase of 62%.

Meanwhile, the total volume of steel products imported decreased by 14% compared to 2016. 

The association forecasted that the steel industry’s growth is likely to expand between 20-22% in 2018.