steel industry

Update news steel industry

Vietnam's steel industry to gradually recover in 2023

Domestic steel demand is expected to keep falling due to the property market slump and tightened monetary policy, economic downturn in many export markets and a rise in supply making the outlook for the industry in 2023 poor, analysts said.

WorldSteel Group opens 2nd office building in Long An

The WorldSteel Group has opened its second office building in the Hai Son Industrial Park, as part of the company’s plan to expand the global market.

Local steel sector saw gloomy performance in 11 months

Totally in the 11-month period, finished steel production saw a yearly decline of 11.3 per cent to 27.12 million tonnes. Sales of finished steel also plunged 7 per cent year-on-year to 25.1 million tonnes, according to the report.

Hard-hit steel producers need governmental push to pick up: insiders

Hard-hit by weakening demand and mounting costs, steel producers are expecting higher public disbursement in the last months of the year to lift them out of hardship.

Vietnam's steel industry woes may last until mid-2023

HCMC – Steel output and consumption have plunged in recent months, and the situation is predicted to linger until the second quarter of next year.

US$2,165 million complex project approved in Binh Dinh

The People's Committee in the Central Province of Binh Dinh today approved the Long Son Iron and Steel Complex project of Long Son Phu My Iron and Steel Company in Lo Dieu village in Hoai My Commune in Hoai Nhon Town.

After Hoa Phat, steel manufacturers report losses

Unlike last year, many Vietnamese steel manufacturers reported losses in the third quarter of 2022.

Steel producers face gloomy business results despite huge potential

The rapid increase in the steel sector's production capacity in recent years has resulted in a glut in some steels, such as construction steels or irons, and cold rolled steel.

Steel manufacturers pocket big money in 2021

2021 was a prosperous year for steel manufacturers with profits increasing sharply compared with the year before. However, some manufacturers had poor business.

VN steelmakers must stay alert for trade defence measures

Viet Nam's steel exports have increased in recent years. As a result, the sector has attracted attention from other countries and triggered a number of defence measures from some markets.

Vietnam imposes anti-dumping duty on Chinese aluminum imports

The domestic industry has been affected due to the dumping of Chinese aluminum imports in recent years.

Vietnam steel industry not likely to have the best of times in 2020

The Vietnamese steel industry is expected to face difficulties this year due to an increase in production capacity, falling demand and protectionist measures by countries to reduce imports, according to experts.

US duties on steel shipped from VN to have little impact: experts

The US’ imposition of duties of up to 456 percent on certain steel products shipped from Vietnam would not significantly harm the country’s steel industry, according to industry insiders.

Businesses told to diversify after steel tariff hike

Vietnamese enterprises are advised to build better business strategies after the US slapped huge tariffs on Vietnamese steel.


China’s dumping leaves Vietnam steel plants fighting for survival

 VietNamNet Bridge – Steel making in Vietnam is in danger of coming to a full stop and the root cause of its demise lies in the fact China is increasingly dumping vast stockpiles of steel in markets around the globe say leading market analysts.


Sharp rise seen in VN consumer confidence; VN-EU pact to deliver the goods; Steel industry seeks more Gov't help; Budget revenue up, oil down; Hanoi seeks to attract more investors; Number of new realty companies surges

Domestic steel mills face uphill battle against Taiwanese giant Formosa

VietNamNet Bridge – Formosa, the Taiwanese steel manufacturer, has advantages over domestic rivals thanks to investment incentives offered by the government.

Exports will save Vietnam’s steel industry

The steel exports have been increasing steadily over the last few years, which is believed to be the way out for the domestic oversupply. The steel exports have always been higher than 2 million tons per annum since 2010.


 Red River Delta development plan announced; Steel sector struggles to iron out difficulties; Vietnam’s sustainable coffee production starts to stir; Shipping firms ignore container handling charges


Greater cooperation needed for central region tourism; Rice exporters dodge rules via consignment contracts; Russian businesses keen to invest in Vietnam; Electronics market struggles to survive