Vietnam aluminum industry landscape in 2022

20/04/2022
2020 – 2022 is a tough period for the Vietnam industry in general and especially in the metal industry
At the time of the first half of 2020, the Covid epidemic broke out, so Vietnam implemented social distancing. Therefore, all production and business activities of non-essential products such as aluminum are affected. According to the Construction Union newspaper, in the first quarter of 2020, the number of employees in the aluminum industry will be reduced by 30%.
 
From the end of the second quarter of 2020, the aluminum production situation gradually stabilized and recovered. With the goals of both anti-epidemic and production, aluminum production and trading enterprises have gradually restored their original stability.

Manufacturer bravely fighting with Covid
 

Actual aluminum price highest in November 2020

In 2020, although the economy has many fluctuations, in early November, aluminum prices had a clear change and reached the highest threshold. Not only in Vietnam but also on the London floor, the aluminum price reached 1,913 USD/ton. The growth in aluminum prices is considered a good sign for the aluminum industry at this time.

aluminum price 2020 2021 

Vietnam’s aluminum situation is looking up in 2021 – 2022

While 2020 is worrisome for the overall economic situation, there are new developments in 2021. Which, Vietnam's aluminum industry is having promising bright spots.
 
The economic situation is gradually improving
Thanks to the vaccine source that the government provides to the whole population, helps to partly limit the harmful effects of the Covid-19 epidemic. Specifically, the recovery of the Vietnamese economy in general and industries is as follows:
 
According to statistics, the real estate sector in the mid-end housing segment has a high demand for buying. Industrial Park real estate develops thanks to the attraction of investment capital in Vietnam.
The hydroelectricity and thermal power sectors have growth prospects due to the sharp increase in electricity consumption demand.
The solar energy industry has grown to meet the needs of the people.
On the other hand, these industries all use aluminum materials, so in general, Vietnam's aluminum industry will thrive in 2021.

 
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