steel

Steel price rises despite falling demand

15:29 | 23/03/2023 Import-Export

The price of construction steel is on the rise despite the fact that the demand for this type of construction material remains weak, insiders have said.

Steel makers witness hardships in Q4/2022

16:01 | 31/01/2023 Import-Export

Steel companies witnessed hardships in the fourth quarter of 2022 with many big players suffering losses.

Steel sector sees gloomy performance in 11 months

19:11 | 24/12/2022 Import-Export

The local steel market continued to be gloomy, with reductions seen in both production and consumption in the past 11 months, a report published by the Vietnam Steel Association (VSA) this week revealed.

Steel producers' profit to hit bottom soon

14:52 | 14/12/2022 Import-Export

VNDirect expects that the gross profit margin of steel companies will soon recover when most of the high-priced inventory has been recorded in the cost of goods sold in the third quarter.

Steel producers face gloomy business results despite huge potential

20:13 | 23/10/2022 Import-Export

The huge potential market is mainly driven by large investments and favourable tax policies, but the business picture in the third quarter of 2022 of these enterprises is facing many challenges with large losses.

State needs a clear roadmap to develop the mechanical industry

14:35 | 19/10/2022 Import-Export

VCN - The total mechanical market demand of Vietnam from now to 2030 can reach more than US$300 billion. However, Vietnam's mechanical engineering industry only meets about one-third of the domestic demand for mechanical products.

Steel enterprises look for "promising partners" from exports

08:05 | 09/10/2022 Import-Export

The decline in demand in many markets around the world has made the steel industry business picture "gloomy", in which export activities are also affected

The deeper the integration, the greater the pressure of suing for trade remedies

09:59 | 26/08/2022 Import-Export

VCN - Vietnam has been participating in the negotiation and signing of many important Free Trade Agreements (FTAs), opening up great opportunities for exports. However, at the same time, Vietnamese goods are also facing more and more pressure of being inv

Steel exports are struggling because of trade remedy lawsuits

19:24 | 24/08/2022 Import-Export

VCN - In the past month, Vietnam's steel exports have faced two trade remedy lawsuits, bringing the total number of trade remedy cases since 2004 to 68. The increasing protectionism, especially in Europe and the US, has been posing many difficulties for s

Exports decelerate after half a year of impressive growth

10:23 | 15/08/2022 Import-Export

VCN - Unlike the impressive growth rate in the previous months, in July 2022, exports decelerated. Information of the Ministry of Industry and Trade has just released shows that exports in July 2022 decreased by 7.7% compared to the previous month, to US$

Profits for the second quarter decelerated, steel enterprises face difficulties

19:32 | 06/08/2022 Import-Export

VCN - In the same period last year, the profit of steel enterprises increased sharply thanks to the strong growth in steel prices, but in the second quarter of this year, many units recorded losses.

A series of steel enterprises lost profits

17:26 | 04/05/2022 Import-Export

VCN - If in 2021, steel enterprises had the opportunity to create profits, in 2022, with many pressures from the external economic context, large-scale steel enterprises have all significantly reduced profit plans.

Vietnam’s steel import turnover up 42.8 percent in 2021

17:59 | 15/02/2022 Import-Export

Vietnam imported 12.3 million tonnes of steel worth 11.52 billion USD in 2021, down 7 percent in volume and up 42.8 percent in value year-on-year, according to the General Department of Customs.

Steel producers make provisions for devaluation in inventory as prices cool down

19:54 | 25/01/2022 Import-Export

After increasing inventories at the beginning of 2021 to take advantage of price differences to maximise profits, the strategy has now hit steel producers hard as global steel prices plunged at the end of the year.

Vietnam’s corrosion-resistant steel faces anti-circumvention probe in US

19:06 | 23/11/2021 Import-Export

The US Department of Commerce (DOC) has received a request for investigation into the alleged circumvention of anti-dumping duties by Vietnam’s corrosion-resistant steel products (CORE) made from cold rolled steel (CRS) and hot rolled steel (HRS) imported from Japan.