[Ferro-Alloys.com]Under the effect by COVID-19, national economic situation has declined. In recent years, Vietnam continuously adopted tighten policies to limited export and import, which attracted others to guess its trade is seriously impacted. All the time, China and Vietnam keep a close relationship in the area of steel import and export. China has become the biggest buyer of Vietnam steel. 

 

China has met a great demand in import and Vietnam shrank its export urgently.

 

Nowadays, the supply and demand on steel of each country shows a trend of increase. China is likely to become the biggest steel buyer of Vietnam, however Vietnam announced that it will reduce steel export volume. Once hearing that, immediately catch the attention of people in the world.

 

According to the report from foreign media and statistic shown that the export volume of Vietnam finished steel to China have increased significantly, growth 88 percent than before. Besides, the numbers of Vietnam imports steel from China has increased nearly 13 million ton and China has become the mainly steel imports country of Vietnam.

 

Effected by the pandemic, steel price increased sharply. Owing to the steel overcapacity in China and Vietnam, they depend on import and export to accelerate the turnover of steel supply chain, which arising the price of trading market in another way. This time, Vietnam has announced cut down the export number of steels, would posing disadvantage impact on steel transaction between China and Vietnam, what’s more, it may endanger the normal trend of the world steel market.

 

China may suffer little effect from export cut down, however Vietnam will shoulder the huge risk on it. For Vietnam, the most effect way is to resolve steel supply.

 

At present, the pandemic is worse in Vietnam. On 27 April, Bei jiang province 476 cases were confirmed. Effected by the pandemic, Vietnam’s economy was suffered from damage. According to the report from Reuters, Beijiang has announced that four industrial zone were shut down, three of them were Apple foundries.

 

中国铁合金网编译