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Hoa Phat’s profits improve despite weak steel demand

Hoa Phat’s profits improve despite weak steel demand

Steel giant Hoa Phat Group reported profits of VND1.45 trillion (US$61.23 million) for the second quarter, the highest in a year, despite a decline in demand amid economic challenges.
Pomina Steel to sell 20% stake to Japanese firm

Pomina Steel to sell 20% stake to Japanese firm

Pomina Steel has agreed to sell nearly 70.2 million shares, a 20% stake, to Japan’s Nansei steel.
July 14, 2023 | 05:00 am PT
Construction steel prices lowest in two months

Construction steel prices lowest in two months

Prices of construction steel have dropped by VND200,000 (US$8.50) per ton, the 10th decline in a row, to VND14.5 million, the lowest rate in the last two months.
June 15, 2023 | 12:43 am PT
EU extends safeguard measures on steel from Vietnam

EU extends safeguard measures on steel from Vietnam

The European Union has extended its safeguard measures on steel imports from a number of countries, including Vietnam, for another 12 months until the end of June 2024.
June 8, 2023 | 11:51 pm PT
Steel industry upbeat in Q1 on higher Chinese prices

Steel industry upbeat in Q1 on higher Chinese prices

Higher prices due to a recovery in China and good inventory and cost management saw the steel industry put up an improved performance in the first quarter.
May 10, 2023 | 04:50 pm PT
Worst over for industry: Hoa Phat Steel chairman

Worst over for industry: Hoa Phat Steel chairman

The worst might be behind the steel industry but it is hard to determine whether the market has recovered, Tran Dinh Long, chairman of Hoa Phat Steel, has said.
March 31, 2023 | 04:39 am PT
WorldSteel Group opens second office building in Long An

WorldSteel Group opens second office building in Long An

The WorldSteel Group has opened its second office building Hai Son Industrial Park (Phase 3+4), as part of the company plan to meet the needs of an expanding global market.
January 17, 2023 | 12:00 am PT
Steel sector sees gloomy performance in 11 months

Steel sector sees gloomy performance in 11 months

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.
December 23, 2022 | 05:15 pm PT
Hoa Phat profit plunges 60 pct

Hoa Phat profit plunges 60 pct

Steel giant Hoa Phat Group saw its post-tax profit plunging nearly 60 percent year-on-year to VND4 trillion ($171.27 million) in the second quarter due to declining prices amid falling demand.
July 26, 2022 | 05:13 pm PT
Hoa Sen Holdings divests from steel subsidiary

Hoa Sen Holdings divests from steel subsidiary

Hoa Sen Holdings has sold its 3.6 percent stake in subsidiary Hoa Sen Group, one of Vietnam’s largest steelmakers.
June 26, 2022 | 09:00 pm PT
Hoa Phat market cap halves in last 9 months

Hoa Phat market cap halves in last 9 months

Steel giant Hoa Phat Group has lost VND130 trillion (US$5.6 billion) from its market capitalization since last October due to a bearish market, rising costs and falling demand in China.
June 21, 2022 | 10:51 pm PT
Steel stocks belie expectations, in deep slump

Steel stocks belie expectations, in deep slump

The Vietnamese steel industry was expected to benefit from the Russia-Ukraine crisis, but stocks of companies have been plunging due to rising input costs and declining demand.
June 2, 2022 | 11:25 pm PT
Vietnam steel price drops in May

Vietnam steel price drops in May

Steel prices in Vietnam saw a downward adjustment in May after seven straight rises from the beginning of the year.
May 18, 2022 | 06:36 pm PT
Ministry seeks 'peculiar' policy to boost steel sector

Ministry seeks 'peculiar' policy to boost steel sector

Vietnam’s steel industry needs a peculiar policy to boost development as it struggles to compete with global producers, according to the Ministry of Industry and Trade.
May 11, 2022 | 04:57 pm PT
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