Vietnam imported a total 944,865 tonnes of steel in January, a year-on-year drop of 18 percent, according to the General Department of Customs.

(Photo: VNA) 

During the month, the country splashed out 570.07 million USD on steel purchases, decreasing 28.8 percent from the same period last year.

The strongest falls were witnessed in the Russian market (down 97 percent in both volume and value), the Brazilian market (down 90 percent in both volume and value), and the Mexican market (down 72 percent in volume and 83.4 percent in value).

In stark contrast, imports surged from France, up 14.9 times in quantity and 13.5 times in value. Purchases from Hong Kong also witnessed a significant climb of 823.3 percent in volume and 252.9 percent in value.

However, most steel imports came from India with 218,043 tonnes, rising 661.6 percent from the same time last year.