According to the Vietnam Market Material Price Report, the Ministry of Industry and Trade said that although global and domestic steel prices have fallen slightly, the purchasing power of the market is still weak. At the same time, imports of steel from abroad continue to increase, especially as China's steel prices are low, and steel sales will not increase at the end of the year.

Due to the price advantage, China Steel has a relatively strong sales in the market, especially in rural areas and private projects, which has exerted tremendous pressure on domestic steel producers. In October, Vietnam's steel output reached 553,000 tons, down 5.5% year-on-year. In the first 10 months, the output was 4.97 million tons, an increase of 1.2%.