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Retail Asia18/02/2022

Steel prices in Vietnam have increased by 2-5 percent in the last two weeks on the back of global price increases and are not far away from reaching last year’s peak. The Thai Nguyen Iron and Steel Jsc has increased its rolled steel prices to VND17.3-17.6 million ($759-772) per tonne, up by around 2 percent […]

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Retail Asia06/12/2021

Steel exports rose by nearly 130 percent in the first 11 months of this year to US$10.8 billion, according to the Vietnam Steel Association. Hoa Phat exported 914,000 tons of finished construction steel products, a year-on-year rise of 90 percent. It plans to export over one million tons, double the volume it shipped last year. […]

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Retail Asia20/09/2021

Steel exports increased by 43.4 percent year-on-year in the first eight months to 8.54 million tons, and were worth US$7.1 billion, a 127 percent rise. In August, for a second month in a row, the billion-dollar mark was breached, with the value of shipments increasing 2.5-fold to nearly $1.5 billion. The main export markets were […]

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Retail Asia26/07/2021

The Vietnam Steel Association (VSA) has protested the latest proposed adjustments to tariff rates on steel products saying they will hurt domestic manufacturers. Under the proposal made by the Ministry of Finance, export tariff for billets would rise from zero percent to 5 percent, while the most favored nation (MFN) import rates for certain steel […]

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Retail Asia05/07/2021

The price of Vietnamese construction steel dropped to below VND17 million ($732) per ton, but contractors said this was still high. The Viet Duc Steel Company said it has lowered prices of steel bars and coils by VND300,000 per ton from July 1, while the Thai Nguyen Iron & Steel Joint Stock Corporation reduced the […]

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Retail Asia12/05/2021

The government has asked steelmakers to implement several steps to control rising steel prices that are hurting construction contractors. Deputy Prime Minister Le Minh Khai has asked the Ministry of Industry and Trade to push for increased domestic steel production towards stabilizing prices. Steel production in Q1 reached 7.6 million tons, a year-on-year increase of […]

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Retail Asia21/04/2021

Steel manufacturers in Vietnam have seen profits increase as much 30-40 times in the first quarter as demand surges and prices rise. In Hanoi, Me Lin Steel saw a post-tax profit surge 41 times year-on-year to VND15.5 billion ($672 million), as steel prices started rising towards the end of last year and the company managed […]

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Retail Asia04/03/2021

Vietnam’s steel industry is expected to recover this year with rising export orders, thanks to improved global demand and surging domestic consumption. Market leader Hoa Phat Group last month exported over 12,000 tonnes of products, mostly cold-galvanized steel, to North and South America. This followed an export of 10,000 tonnes in January to Belgium and […]

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Retail Asia01/03/2021

Steelmaker Hoa Phat plans to manufacture 500,000 twenty-foot equivalent unit containers a year to mitigate a shortage since containers are stuck at ports after Covid-19 hit trade. It plans to build its first container manufacturing factory in Binh Duong or Dong Nai province and near Cat Lai Port in HCMC and Cai Mep – Thi […]

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Retail Asia22/02/2021

The Indonesian Anti-dumping Committee has concluded that Vietnam is dumping cold steel sheets following a 16-month-long investigation. Indonesia will apply anti-dumping duties of 3.01-49.2 percent on imports from Vietnam. But some major exporters are set to get away with low duties, according to the Trade Remedies Authority of Vietnam. Hoa Sen Group will pay 5.34 […]

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Retail Asia22/01/2021

Tran Dinh Long, dubbed the “king of steel,” had no experience in the steel industry when he decided to enter it anyway in the mid-90s. “All I had at the time was passion and a lack of fear,” Long, founder and chairman of Vietnam’s biggest steelmaker, Hoa Phat Group, said in a recent interview. The […]

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Retail Asia28/09/2020

Vietnam’s steel exports to China surged 19 times to 2.07 million tonnes between January and August on the strength of rising demand in a recovering economy. This was nearly 35 percent of Vietnam’s total steel exports in the period, and its value rose 15 times to $844.5 million, according to Vietnam Customs. China’s customs data […]

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Retail Asia27/08/2019

Indian steel manufacturer Tata Steel has launched a steel retail store called Steeljunction in an attempt to create new paradigms in the industry for B2C consumers. The outlet will provide a “one-stop destination” for consumers intending to shop for the metal. It will showcase steel products catering to four consumer segments – Home Decor & […]

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Retail Asia20/07/2019

Steel is a durable material and the main structural material for engineering. It represents an alloy of iron with carbon, the content of which in its structure contains 0.01–2.14%. The composition also includes insignificant amounts of silicon, manganese and sulfur. This material has exceptional mechanical properties: hardness and malleability, thanks to which it is considered […]

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Retail Asia24/04/2019

In a recent letter to shareholders, Thai Nguyen Iron and Steel Jsc (TISCO) said it is facing “a financial crisis which could lead to bankruptcy if it is not saved by the government, banks and other authorities.” The charter capital of the company, one of the largest steel producers in Vietnam, was VND1.94 trillion ($83.6 […]

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Retail Asia27/11/2018

French carmaker Renault has asked Korean steelmaker Posco to enter the Moroccan market and supply automotive steel, a person familiar with the issue said last Thursday. Renault approached the world’s fifth-largest steelmaker by output in early 2017 as part of its strategy to diversify its supply of steel, the source said, who asked not to […]

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Retail Asia14/08/2018

The Malaysian steel sector will be affected negatively in 2018 and 2019 due to the trade wars on the external front, said MIDF Research. “Changes in global trade policies, tepid global demand as well as the local steel mill cost structure will continue to impede any positive demand for the companies under our observation,” it […]

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Retail Asia26/07/2018

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The EU and Canada are taking safeguard measures to protect their steel companies from exports from Vietnam. The EU claimed it is taking the protective measures due to a surge in imports from many countries in recent years. Imports of steel products had been 18.8 million tons in 2013 but jumped to 30.5 million last […]

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Retail Asia24/07/2018

China on Monday (23/07) launched an anti-dumping probe into stainless steel imports worth $1.3 billion, including from a privately owned Chinese mill with operations offshore, after complaints that a flood of product has damaged the local industry. The Commerce Ministry said on Monday the investigation will target imports of stainless steel billet and hot-rolled stainless […]

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Retail Asia22/06/2018

The recent escalation of trade tensions between the U.S. and China could have a positive effect for some industries in Vietnam, but experts warn these gains could prove short-lived. U.S. President Donald Trump announced last week that he would push ahead with tariffs on $50 billion of Chinese imports starting July 6, and China retaliated […]

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