Update news steel

Vietnam’s steel exports to China nosedive

China is no longer a major export market for Vietnamese-made steel, as revenue from steel shipments to the northern neighbor has plummeted, the General Department of Vietnam Customs reported.

US extends anti-tax evasion investigation into Vietnamese stainless steel plates

The US Department of Commerce (DOC) has announced to extend the time to consider requests for the anti-dumping and anti-subsidy duty evasion investigation for stainless steel plates imported from Vietnam.

Vietnam stays ready for trade talks with US to address arising problems

Vietnam is willing to hold trade talks with the United States to timely solve arising problems and strengthen bilateral economic, trade and investment relations, in the interest of businesses and people of the two countries.

Vietnamese steel pipes face U.S. probe into evasion of trade remedies

The United States has received a petition from US-based steel producers demanding a tax-fraud probe into several steel pipe products imported from Vietnam.

Vietnam removes anti-dumping duties on steel imports from China, S.Korea

The Ministry of Industry and Trade has decided to remove anti-dumping duties on coated steel imports from South Korea and China after five years of imposing the duty.

Steelmakers deny advantage from anti-dumping fix

The Ministry of Industry and Trade earlier this month issued Decision No.625/QD-BCT on upholding the application of anti-dumping measures on some cold-rolled stainless steel products in Vietnam originating from Taiwan, Indonesia, Malaysia, and China.

Steel industry posts trade deficit of US$ 800 million in first quarter

By the end of the first quarter, the steel industry had imported up to three million tonnes, worth US$3.1 billion, with a trade deficit of US$800 million, while exports brought in US$2.3 billion, according to the Vietnam Steel Association (VSA).

Steel industry to join 10-billion USD export club

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 expects to be a net steel exporter with strong steel export growth

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 prices hit new high

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 to boost digital transformation through strategic collaboration with CMC Corporation

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

Steel tycoon’s son considers major business deal

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).

Govt orders stabilizing surging steel prices

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.

Local steelmakers red hot on investment

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.

Hot rolled coil segment named bright spot of Vietnam's steel industry

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.

China makes up nearly 40% of Vietnam’s steel imports despite tighter trade measures

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.

Glut in steel forcing industry leaders to halt programmes

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.

Supply-demand imbalance, origin fraud puts pressure on steel manufacturing in Vietnam

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

Will Chinese HRC steel benefit if Vietnam raises tax?

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

Steel prices spiraling out of costs amid electricity price adjustment

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