With a record export growth rate in the first nine months of 2021, steel is forecast to soon join the 10-billion USD export club.

Vietnam is expected to become an exporting country of iron and steel by end-2021 after decades of dependence on imported iron and steel from China.

Steel has hit a new high after a series of rapid price increases from May through June 2021 when they increased by more than 50 per cent compared to the beginning of the year.

Hoa Phat Group has chosen CMC Corporation as a strategic consulting partner to help accelerate its digital transformation journey in the next 5 years.

The family of Vietnam’s steel tycoon Tran Dinh Long will mark a turning point in power if Long’s son successfully buys more shares of Hoa Phat Group (HPG).

Deputy Prime Minister Le Minh Khai has asked the Ministry of Industry and Trade to increase the steel production capacity to meet the local demand and stabilize steel prices as they have surged 40%-50% since the end of last year.

Over recent months, the steel market has retained positive momentum after its recovery in mid-2020, helping many steel producers record a strong performance in the first quarter of 2021.

The fate of Thai Nguyen Iron and Steel plant – phase 2 remains uncertain and it is unable to restart while its debts are only swelling.

Currently, local production of hot rolled coil, a key input material for cold-rolled steel and other pre-painted galvanized steel sheet, cannot meet domestic demand.

The neighboring country remained Vietnam’s leading supplier of steel over the last three years, with the quantity and value growing at two-digit growth rates annually.

The largest steelmaker in Vietnam is considering a hold on its third blast furnace facility due to concerns with China’s steel presence in the country.

The biggest difficulties facing Vietnam’s steel industry are trade remedies applied by importing countries and supply of materials.

China will have opportunities to export more hot rolled coil (HRC) products to Vietnam ad the products will be unaffected by import tariffs.

The retail electricity price increase has dealt a strong blow to the steel manufacturing industry, which is facing difficulties.