Steel industry witnesses growth in European market

Many businesses in the industry had a breakthrough year thanks to the rise in selling prices and boost of export channels in the European market.

Some experts believe that steel prices will continue to stay at a high level, at least in the first half of 2022. Major economies such as the US, EU, and Japan are resuming their growth trajectories, which will lead to an increase in steel consumption.

According to the forecast of the Vietnam Steel Association (VSA), in the second half of 2022, steel prices may become more stable as supply disruptions are gradually resolved, helping to lower costs of transporting raw materials for steel production.