Miners from the mineral hematite mainly mine iron, often found in black sand lying along the coast in stream beds. Other sources are magnetite, siderite, and limonite. Siderites are a family of meteorites that contain iron as their main component.
In the Vietnam market, iron is one of the primary raw materials in construction works. Not only that, but this is also an extremely suitable material for export and import to foreign markets. Today, we will learn about how to import Iron from Vietnam together!
Origin Of Vietnamese Iron
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Iron is an abundant, inexpensive valuable metal for many uses and has been critical in human history. Iron has been a metal since ancient times. It is strong, durable, and easily alloyed with other substances to increase its use.
Iron ores are often deep underground, and they include rocks containing minerals such as metals or gems; miners will extract them directly from mineral mines. One can separate iron from rocks and minerals from unique methods collected and searched.
There are two most common types:
- Hematite one ore, with the chemical formula Fe3O4 with a very high content of more than 70%.
- Magnetite ore has the chemical formula Fe2O3 with lower content than Hematite. There are also other types such as Limonite, Goethite, and Siderite.
Here are the two most prominent ores in Vietnam and also the source of raw materials to make iron and distribute to domestic and foreign markets:
- Thach Khe ore mine in Ha Tinh province: Businesses can exploit open pit mines with a depth of up to 120m above sea level. Besides, this iron mine is like the largest construction mining source in Southeast Asia, with an average content of 58% of the whole mine.
- Quy Sa ore mine in Lao Cai province: It is an ore mine that has an important influence on the province’s economic development and directly affects the iron and steel construction industry throughout Vietnam.
Vietnam Iron Import/Export Market
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The latest preliminary statistics from the General Department of Customs show us that the growth and development of the total import-export value of Vietnam in the period 1 November 2021 has reached 29.59 billion USD, up 3% (corresponding to an increase of USD 867 million).
The results achieved in the first half of November 2021 brought the total import-export value of the whole country by the end of November 15, 2021, to reach USD 569.03 billion, up 22.7%, equivalent to an increase of 105.32 billion USD.
Most notably, in terms of export turnover, the group of iron and steel products of all kinds reached 10.27 billion USD, an increase of 5.88 billion USD, corresponding to a sharp rise of 134% over the same period in 2020.
Thus for the first time, Vietnam’s iron and steel exports have surpassed 10 billion USD – a respectable figure in this industry.
Vietnam has become an iron and steel export surplus, with the trade surplus as of November 15, 2021, reaching 240 million USD. It is also a good sign for those planning to invest in this industry.
Consult the price in foreign markets:
- Welded Square Special Steel Pipe Pallet costs about 420.00 US$-520.00$/Ton.
- Stainless Steel Hot Rolled Rectangular Price is approximately 1500 – 2000$/ton.
- MS Stainless Steel Coil costs about 1000$/ton.
Shipping Process Import Iron from Vietnam
To import iron from Vietnam, you need to go through a separate process with many different procedures, including the following steps: Product search – Price negotiation – Paper preparation – Deposit – Payment on receipt row.
In addition, you should also note that each country will have its own procedural and paperwork requirements.
We have researched and compiled some of the types below in more detail about the documents and procedures you need to prepare. You can refer to the following documents to import iron from Vietnam.
- Customs records
- Certificate of Plant Quarantine Registration
- Product code for each type, item
- Some other related documents
Besides the documents that we have shared with you before, you also need to be mentally prepared for more complicated procedures, including Certificate of import quarantine and Business license (depending on each aspect).
If this is your first time learning about goods and importing and exporting to foreign markets, this can be a challenge for you.
However, importing from Vietnam will become easier if you find out and connect to a specific shipping unit.
They are a safe and solid bridge to help you import products quickly, ensuring quality. Please refer to the shipping unit that we share below!
About Vncomex JSC
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Since its establishment, Vncomex JSC has consistently received the trust of many businesses known for its service quality, superior efficiency, and high professionalism.
No matter what service you are looking for, we ensure to meet your requirements in the best way and exceed expectations and ensure total customer satisfaction.
With many years of experience in transporting goods, Vncomex JSC is proud to provide businesses with attractive service quality:
- Helping customers design flexible freight routes, saving time and costs.
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With Vncomex JSC accompanying, all logistics and freight services will be fast, safe, and efficient. Vncomex JSC will provide optimal solutions to promote goods circulation for the joint development of businesses.
Thus, today’s article has shared with you helpful information about importing Iron From Vietnam. It can be that this is an industry that has constantly been developing and bringing huge profits to your business.
Besides, if you are looking for a fast, reputable, quality shipping unit with reasonable and affordable prices, please immediately refer to Vncomex JSC. Don’t forget to connect to Vncomex JSC for timely advice and support!