Vietnam steel industry
Latest News about Vietnam steel industry
Hoa Phat Stee Group of billionaire Tran Dinh Long has entered the world's top 15 corporations in terms of market capitalization.
The Thai Nguyen iron and steel project phase 2 has been left idle for many years, bringing about the dismissal and prosecution of high ranking managers of Tisco (Thai Nguyen Iron and Steel JSC) and VNSteel (Vietnam Steel Corporation).
The COVID-19 pandemic has led to many construction and real estate projects being delayed, resulting in large inventories of construction materials, especially steel.
The global coronavirus developments coupled with the falling demand are adding more pressure for some steelmakers to lay idle their projects, cut products, or ponder mergers and acquisitions strategies to ensure their cash.
Vietnam’s steel industry would face many challenges in exporting steel to the EU despite the advantages gained under the Vietnam - EU Free Trade Agreement (EVFTA), according to experts.
The Australian Anti-dumping Commission (ADC) initiated two anti-dumping and anti-subsidisation investigations for some aluminium zinc coated steel products, which originate from Vietnam and some other countries.
The steel industry is facing lawsuits against tax evasion and dumping, according to information from the Vietnam Steel Association.
Hanwa Co., a Japanese firm trading in a wide range of products including steels and construction materials, has bought a 65-percent stake in a Vietnamese steel coil maker, according to NNA Japan.
The Ministry of Industry and Trade (MoIT) has extended the time to decide the launch of an anti-dumping investigation on cold-rolled carbon steel coils and sheets imported from China by another 30 days.
The total designed capacity of the domestic cold-rolled steel industry reached more than 700,000 tonnes, so local producers now can only run at about half of their designed capacity, according to the petition.
Local steel industry is projected to enjoy a growth rate of some 10 per cent during 2019 which would be primarily driven by two key projects in the central region, the Ministry of Industry and Trade has said.