Steel production has transformed significantly thanks to active participation from private enterprises, which have invested big in advanced production technologies and completed steel manufacturing lines with high-capacity plants, resulting in diverse and high-quality products.
Many Vietnamese brands like VinFast, Hoa Phat, Viettel, Vinamilk, and GrowMax have steadily increased their market share at home, expanded their export markets, and built production and value chains, all while contributing to the country’s economic growth.
The steel industry in Vietnam is expected to have a positive outlook for 2024, with major companies like Hoa Phat and Hoa Sen projected to experience significant recoveries, while small businesses may face challenges in finding output due to the recovery of steel prices and demand from large contractors.
The Hoa Phat Group supplied the market with 296,000 tonnes of hot rolled coil (HRC) steel. This is the highest sale level since it started supplying HRC to the market in November 2020.
Vietnam’s largest steel maker Hoa Phat Group said it has received export orders of 720,000 tonnes of construction steel in total for delivery between now and May.
Vietnam’s largest steelmaker, Hoa Phat Group, sold a total of 450,000 tonnes of construction steel products in February, representing a 2.3-fold increase year on year and a rise of 17 percent against January.
Vietnam's leading industrial manufacturing group Hoa Phat recorded the highest ever after-tax profit in a quarter at 10.3 trillion VND (453 million USD) in the third quarter of this year, 2.7 times higher than the same period last year.
Leading steel manufacturer Hoa Phat Group sold over 93,200 tonnes of steel pipes in the first two months of 2021, a year-on-year increase of 8.6 percent and giving it the leading market share in Vietnam.
The Hoa Phat Group has reported some 700 million USD worth of imports from Australia this year, more than double the figure from last year and making the industrial manufacturer the largest Vietnamese client of the country.
Hoa Phat Hung Yen Steel Co., Ltd – a subsidiary of Vietnam's leading steel manufacturer Hoa Phat Group - has signed a number contracts to export high-quality rolled steel branded SAE to African markets, marking its success in opening new export markets.
Steel maker Hoa Phat has reported that the export of steel pipe products produced by its subsidiary - Hoa Phat Steel Pipe Co., Ltd - in the first five months of 2020 surged by 78 percent year-on-year despite the COVID-19 pandemic.
Steel maker Hoa Phat has signed a contract to sell 120,000 tonnes of steel billets, worth over 1 trillion VND (nearly 43 million USD), to China’s firm Hangzhou CIEC Group Co., Ltd.
In the first half of 2019, Hoa Phat Group poured nearly 9.17 trillion VND (393.35 million USD) into Dung Quat iron and steel production complex, raising total investment in the project to approximately 42.92 trillion VND.
Steelmaker Hoa Phat set new records in sales and exports after the group sold 250,000 tonnes of construction steel in October, with 40,000 tonnes shipped abroad.
Hoa Phat has posted revenue and post-tax profit gains of nearly 27.6 trillion (over 1.19 billion USD) and over 4.4 trillion VND (190 million USD) in the first half of 2018, representing rises of 30 percent and 27 percent from the same period last year, respectively.
Vietnam’s steel production reached about 4.69 million tonnes in the first half of 2018, up 7 percent against last year, according to the Ministry of Industry and Trade.
The Australian Anti-Dumping Commission (ADC) has ended its year-long investigation into alleged dumping of steel rod in coils exported to Australia from Vietnam in favour of the country .
