Vietnamese steel exports more than doubled in June to 882,019 tonnes from 428,361 tonnes in May and remained high in July at 885,366 tonnes, data from Vietnam's customs showed this month.
China was the key destination for Vietnamese steel in both months, importing 489,685 tonnes in June and 401,930 tonnes in July.High prices in domestic Chinese markets, an open arbitrage window, the short shipping time compared with other origins such as India and the Middle East, as well as the free trade agreement (FTA) between the Association of South East Asian Nations (Asean) and China meant China was a natural customer for Vietnamese...