Over half of imported steel comes from China

In particular, Vietnam imported 19.83 million tons of finished and semi-finished steel products and rose 27.24% to reach US$9 billion last year. Although the Ministry of Industry and Trade adopted safeguard measures for imported steel billets and long steel to protect the domestic steel sector last December, the large volume of cheap steel imported from China triggered many challenges in Vietnam's steel sector, especially the current surplus of steel production.