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In recent times, the Pomina Steel Corporation project has garnered the attention of many people with an impressive net loss figure of 648 billion dong. This is one of the significant investment projects in the steel manufacturing industry in Vietnam, and it has experienced some important fluctuations.Pomina Steel Corporation continues to incur losses in the third quarter of 2023Previously, Pomina was the largest steel producer in Vietnam, holding a 17% market share, while Hoa Phat accounted for only 12%. However, with its strategic vision, along with low sales revenue in the challenging economic environment and high cost of goods sold, Pomina Steel Corporation lost market share to domestic competitors like Hoa Phat, Hoa Sen and others.In 2023, Pomina Steel Corporation set a revenue target of 9,000 billion dong and a post-tax profit of a loss of 150 billion dong. However, the company continued to incur losses in the first three quarters of the year, surpassing the set target.Recently, Pomina Steel Corporation has released its financial report for the third quarter of 2023, which showed a consolidated net revenue decrease of over 83% compared to the same period last year, down to 503 billion dong due to reduced sales volume and lower selling prices. The company continued to operate with a cost higher than revenue, resulting in a gross loss of 5.2 billion dong compared to a gross loss of 578 billion dong in the same period. As a result, in the first nine months of 2023, Pomina Steel Corporation recorded a total revenue of 2,948 billion dong, a 74% decrease compared to the same period last year, and a post-tax loss of 647 billion dong, while it incurred a loss of 707.5 billion dong in the same period of the previous year. Consequently, just within the first nine months of 2023, the losses reported by Pomina Steel Corporation significantly exceeded the initial plan.Not only is Pomina Steel Corporation running at a loss, but its financial situation is also alarming. The company has reported negative operating cash flow of 253 billion dong compared to the same period last year. Additionally, the company has made investments of 5.19 billion dong and reported a financial cash flow of 56 billion dong. The company has also used short-term capital amounting to 4,199 billion dong to finance its long-term assets. The reasons leading to Pomina's loss of 648 billion dongThe net loss of 648 billion dong has been surprising and contentious. There are several reasons that have led to this situation:Fierce competitionThe steel product market has had to deal with fierce competition, particularly from imported steel products, especially those from countries like China. This competition has exerted pressure on both prices and profits for Pomina Steel Corporation.Increased raw material pricesThe prices of steel production raw materials, such as iron ore and coke, have risen significantly, affecting the cost of steel products.Real estateThe stagnant real estate market, along with a sharp drop in steel consumption and revenue during the period, has led to a significant decrease in Pomina Steel Corporation revenue. This, coupled with high fixed costs and interest expenses, has resulted in substantial losses in the past quarter.Additionally, the shutdown of the Pomina 3 steel plant has incurred various costs, including interest expenses. It is expected that this steel refining plant will resume operations in the early fourth quarter of 2023, immediately after a private equity issuance to investors.With Pomina Steel Corporation net loss of 648 billion dong, it presents a significant challenge, but it also provides an opportunity for the corporation to refine and grow. Currently, Pomina remains one of Vietnam's leading construction steel manufacturers. If you are interested in purchasing Pomina's construction steel products, please feel free to contact us HERE.

The steel industry in Mexico is considered one of the most dynamic steel production hubs globally, as the country ranked among the top 15 steel manufacturers worldwide in 2022. Here is the list of the top 5 leading steel manufacturers in Mexico, evaluated based on their operational history, factory capacity, and an extensive network of branches not only within the country but also throughout the Americas region.Altos Hornos de México (AHMSA)AHMSA is a steel mill with a history of over 80 years of operation in Mexico, located in Monclova, a central region of the Coahuila state, about 250 kilometers from the U.S. border. The plant was initially established to solve the steel raw material shortages during World War II. Currently, AHMSA is the largest steel producer in the country, with an extensive industrial chain, from iron ore mining and coal mining to the production of various steel products.Leveraging its advantage as a raw material miner and transporter, AHMSA is often known as one of the lowest-cost steel suppliers in the region. The plant's strengths include products such as hot-rolled coil steel, cold-rolled steel, tinplate, and construction steel. As the largest and most robust steel mill chain in Mexico, the company owns a 1,200-hectare facility with two main production plants, with a total capacity of 5.5 million tons per year.Ternium MéxicoTernium is a steel production and distribution conglomerate that specializes in various types of steel, including hot-rolled steel, cold-rolled steel, galvanized steel, and construction steel. The company operates a network of facilities across multiple countries in the Americas region, including Argentina, Brazil, Colombia, Mexico, and the United States. The group aims to become a leading steel supplier in the Americas region, serving primarily the automotive, oil and gas, machinery, and construction industries.According to data from the World Steel Association in 2021, Ternium was among the top 15 largest steel manufacturers in the world. Currently, Ternium operates 18 steel plant complexes and 42 distribution centers. In addition to steel production and distribution in the Americas region, Ternium is also known as a raw material miner in Mexican ore mines. With control over input materials and a vast network of operating plants across various countries, the company has an annual crude steel production capacity of 12.5 million tons, with hot-rolled steel being a significant product category, boasting a capacity of over 13.8 million tons.DEACERODeacero is a mining and steel production conglomerate with over 70 years of history in Mexico. The group is focused on developing a leading steel distribution network across the Americas, with a presence in various countries, including the United States, Canada, Guatemala, Costa Rica, Colombia, Chile, Peru, and Spain. Currently, the conglomerate owns a total of 21 Recycling Centers, 3 Steel Mills, 15 Finished Product Plants, and 1 Research Center, with a steel production capacity of up to 4.5 million tons per year.Grupo SimecGrupo Simec is a well-known leader in long steel manufacturers in Mexico, with a product portfolio that includes wire, rebar, structural steel, fencing, and wire mesh. Founded over 70 years ago, Simec played a vital role during the industrialization of the country. The company operates mainly in three regions: Mexico, the United States, and Brazil.At present, the company operates a total of 15 mills, with 4 major mills in Mexico, located in Mexicali, Guadalajara, Tlaxcala, and San Luis Potosi, and 7 more mills in the United States and Brazil. As of 2020, the company's annual crude steel production capacity reached over 4.8 million tons, with finished steel production capacity exceeding 5.2 million tons.ArcelorMittal Las TruchasLocated on the Pacific coast of Mexico, ArcelorMittal Las Truchas is considered one of the largest steel manufacturers in Mexico with nearly 50 years of history. The company specializes in various long and flat steel products, including rebar, wire rod, hot-rolled steel, cold-rolled steel, and other coated steel products.Las Truchas is also the name of iron ore mines concentrated in the southeastern part of Mexico, with an annual iron ore supply of over 1.8 million tons. Due to its favorable geographical location, the Las Truchas plants can efficiently manage their raw material supply, enhancing production capacity. Currently, the steel production capacity of the plant is 6.4 million tons and is divided into two main branches: long steel with a capacity of 2.4 million tons per year, mainly providing steel bars and wire rods for the construction industry, and flat steel with a capacity of 4 million tons per year, accounting for 5/8 of the plant's production and primarily serving the international market.It is evident that the abundant iron ore reserves in the region have created conditions for Mexico to develop its steel industry, making it the 14th largest producer of raw steel in the world. Additionally, the major steel production conglomerates in Mexico share a common trait – they have extensive networks of plants and branches spread throughout the Americas region due to their strategic geographic locations, serving as a bridge between North and South America.Despite the recent decline in steel consumption and the challenges faced by the global steel industry for over a year, Mexico is still seen as a promising steel importing and exporting nation due to its excellent steel supply capabilities. The above is a list of the top 5 steel manufacturers in Mexico, as compiled by MRS Steel. If you need to learn more about the top steel manufacturers in other regions, including Vietnam, please continue to explore our Blog category!"

SY STEEL VINA is a color-coated steel manufacturing company under SY Group Korea - the brand with the world's leading panel production market share. Vietnam is one of SY Group's three large mills in Asia, specializing in distributing high-quality pre-coated metal and laminated steel (Vinyl coated metal) to domestic and international markets. Currently, SY Steel Vina is a supply partner for large corporations in the world such as SamSung, LG, Nutricare, GFood,...1. Overview of SY STEEL VINASY Steel Vina is a famous brand in the production and distribution of high-quality pre-coated steel and Vinyl coated metal to domestic and international customers. The company specializes in providing color-coated corrugated sheets from many types of base metals such as steel, aluminum, stainless steel (SUS),... Currently, SY is operating 3 production technologies including PCM (Pre-Coated Metal), VCM (Vinyl Coated Metal), SSL (Shearing and Slitter Line) with a total capacity of more than 190,000 tons/year. Thanks to quality raw materials, along with modern production technology, SY's finished products are diverse in color, style, design and quality to meet the most stringent requirements of customers.SY's main products include sandwich panels, Urethane Insulator, ACP, auxiliary materials, windows, doors, colored steel panels, CCL, Solar modules, ESS, invertors, floor panels, H-beams, Polyol systems, fire retardants, decorative panels, necotile, UBR and modular houses (SIP),... serving fields such as architecture, construction, and household appliances.Paint resinCharacteristicRMP (Regular Modified Polyester)Medium performance, conventional coating.HDP (High Durability Polyester)Good performance, good weather resistance, good hydrolysis resistance, excellent chemical resistance and durability.SMP (Silicone Modified Polyester)Good performance, wear out resistance, scratch resistance, withstand the processing of stamping.MattGood performance, attractive effect, good color retention.Print (RMP)Attractive pattern design: Shingles, hairline, wood , 3D, Corten, etc.PVDF (Poly Vinylidene Fluoride)Best performance in anti-heat resistance, weather resistance, chemical resistance, color retention.PVDF (Poly Vinylidene Fluoride)Anti bacteria and fungal. Mostly use in operation room, clean roomSY Antistatic (HPP)Anti static compound helps increase resistivity 106～108 Ω/cm2. Mostly used in high-tech works or places that are easy to catch fire and explosion.SY Cool Roofing (SQ-40CR)Reflect UV, excellent anti-heat performance, reduces 8-25% interior temperature. Lifespan 40 years.2. Advanced production technology system2.1. Pre-Coated Metal (PCM) TechnologyTo increase aesthetics, durability, scratch resistance and many other outstanding features for metal panels, SY Steel Vina coats the surface with a layer of PCM before cutting and shaping. The processing speed of PCM technology is extremely fast and high productivity. Users can request gloss and smooth texture to give the product a more luxurious and high-end appearance.PCM coatings are often applied to washing machines, air conditioners, microwave ovens, TVs, audio equipment covers, refrigerators,... SY Vina meets both mass production in large quantities and according to customer's demand. With diverse, eye-catching and durable paint colors, PCM steel panels are becoming a new trend in the field of high-end home appliances.2.2. Vinyl Coated Metal (VCM) TechnologyVCM steel, also known as VCM multi-layer steel, goes through a special production process to create high-quality products with outstanding durability and aesthetics. Colored steel panels, cold-rolled steel, galvanized steel, stainless steel,... are covered with PVC film, which acts as a protective layer, preventing corrosion, rust, scratches, chemicals and UV rays. They are used in high-end household products such as refrigerator covers, washing machines, air conditioners, elevators, appliances... In addition, the durability and longevity of VCM products are better than traditional coated metals. SY Steel has available designs in terms of color, pattern, texture and accepts designs according to customer's demand. Currently, SY's VCM steel focuses on the high-end furniture segment, popular in major markets such as Japan, Australia,... One of the most notable features of VCM steel at SY is the gloss effect from low to high, creating unique and delicate patterns such as wood grain, stone grain, tile grain, leather grain,...3. MRS Steel – Sourcing and importing unit of high quality SY Steel Vina steelMRS Steel is a trusted partner of many Vietnamese steel importers around the world such as the United States, Australia, Italy, EU, Malaysia, Indonesia,... With more than 12 years of experience in the field of iron and steel export, MRS Steel has expanded its connection network with many large mills such as SY Steel Vina, Hoa Phat, Ton Hoa Sen,...We always support customers in researching the domestic market, order requirements, customs procedures and many other issues to optimize time, effort and purchasing costs. MRS Steel went directly to SY's factory to review technology lines, test samples and discuss with SY's board of directors to agree on sales and warranty policies to ensure the best benefits for importers. If customers need a quote for the highest quality PCM and VCM steel, please contact MRS Steel via Whatsapp +84 76 911 2358 for the best support.

Vietnam's steel industry is one of the country's most critical economic sectors, and foreign direct investment (FDI) plays a crucial role in its development. The three largest FDI enterprises in the industry are Formosa Ha Tinh, Posco Yamato Vina, and Pomina. These companies invest heavily in new production facilities, technology, and infrastructure, helping drive the industry's growth and competitiveness. 1. Formosa: receiving total FDI investment capital of USD 7,879,060,000 from TaiwanFormosa Steel Joint Stock Company (FHS) under Formosa Plastics Group of Taiwan is currently one of the largest FDI enterprises in Ha Tinh province. FHS was granted a construction permit on June 12, 2008. The Iron and Steel Complex investment project and Son Duong Deep-Water Port is one of Vietnam's most significant FDI projects, with a charter capital of 5.5 billion USD total investment capital of 12,787 billion USD.The project has a total area of 3,318 ha, of which the land area is 2,025 ha, and the water surface area is 1,293 ha. The company's principal shareholders include Taiwan (China) plastic manufacturing group Formosa Plastic, China Steel (CSC), and JFE Steel Company (Japan).In addition, Formosa also has many of the most significant FDI projects in the steel industry, such as the Vung Anh industrial park (Ha Tinh province), attracting 152 projects, including 56 foreign-invested projects (including 1 project investment in the form of BOT) with registered capital of more than 16 billion USD and 96 domestic investment projects with a registered capital of 55,234,020 billion dongs.2. Posco Yamato Vina: Received total FDI investment capital of USD 1,128,000,000 from KoreaPosco Yamato Vina Steel Joint Stock Company is a joint venture between Korea's Pohang Iron and Steel Company (51% stake) and Japan's Yamato Holdings (19% stake), specializing in the production of hot rolled section steel and sheet pile steel. In 2020, Posco Yamato was the first company to produce wide H-shaped steel in Vietnam. Currently, Posco is operating a steel mill in Ba Ria - Vung Tau with a capacity of 1 million tons per year and producing section steel with a capacity of 500,000 tons per year.By the end of 2022, Vietnam has attracted 142 countries and territories to invest, including South Korea leading the top 1 with a total registered capital of more than 81.3 billion USD with nearly 9,500 projects. Accordingly, Posco Yamato is a Korean FDI enterprise with a total investment capital of 1,128,000,000 USD and a charter capital is 451,000,000 USD.3. Pomina: sold 20% shares to Nansei Steel CompanyAt the 2023 General Meeting of Shareholders, Pomina (POM) announced strategic cooperation with Nansei Steel Company based in Chiba, Japan. Nansei invested in POM and became a strategic shareholder with a foreign ownership ratio below 65%.Viet Steel Manufacturing and Trading Co., Ltd is Pomina's largest shareholder, with an ownership rate of more than 53.3% of capital. If the cooperation "mission" between Pomina and Nansei Steel is successful, Nansei will become POM's second-largest shareholder, holding 20% of the shares, equivalent to 20 million USD.In the long run, the orientation of the business is to invest in depth towards sustainable development. With many years of industry experience, POM is one of the few manufacturers that owns the Consteel steelmaking technology chain, which is entirely closed and synchronous.FDI enterprises in the steel industry have many advantages in overcoming the world economic crisis and stabilizing production activities. This also brings "huge" investment capital into the technology chain system, improving product quality and opening export opportunities to many international markets.

Hoa Phat Group (HPG) is Southeast Asia's largest steel manufacturing corporation, with 8 million tons of crude steel/year capacity. Hoa Phat Group is and will implement many steel projects to improve production capacity and meet the requirements of strict export standards. In this article, MRS Steel will get deeper into the factories, blast furnaces, and electric furnaces that Hoa Phat has operated and is in the investment stage.1. Hoa Phat Dung Quat Quang Ngai Steel MillHoa Phat Dung Quat Steel Mill was constructed in February 2017 with a total charter capital of about VND 30,000 billion. This is one of the critical factories of Hoa Phat Group, playing the role of a "leader" in supplying materials for domestic needs and exporting to foreign markets, helping HPG maintain its digital market share position 1st in Vietnam.According to statistics, the production output of Hoa Phat Dung Quat is about 4 million tons of steel per year, with the leading products being construction steel, hot-rolled steel, cold-rolled steel,... To ensure optimum production capacity, Hoa Phat has continuously applied the latest technology and modern facilities, such as closed blast furnaces and deep-water seaport systems,... Thereby helping to optimize cost, production, and transportation time is environmentally friendly and does not emit exhaust gasses and heat directly to the outside.2. Hoa Phat Hung Yen Steel FactoryHoa Phat Hung Yen Mill was separated from Hoa Phat Group Joint Stock Company in November 2020 and is located in Pho Noi A Industrial Park, Hung Yen province, with a capacity of about 400,000 tons/year. The factory invested 13 million USD according to the latest technology of Danieli (Italy), mainly producing products such as reinforced concrete, coil steel, barbed wire, rebar, CRC,...3. Hoa Phat Hai Duong Steel FactoryHoa Phat Hai Duong Steel Plant was the first project of HPG, started construction in August 2007, and has the largest capacity of all the projects in operation. The project was divided into 2 phases, with a capacity of 350,000 tons of steel per year (in 2010) and 500,000 tons of steel per year (in 2013). As of 2021, the factory's total capacity reached 2.2 million tons of steel/year. Thanks to the use of energy reuse technology, the Hai Duong factory has self-control of nearly 50% of the electricity to operate the entire production system.4. Blast furnace system, Hoa Phat electric furnaceHoa Phat currently has a total of 7 steel blast furnaces, including 4 at Hoa Phat Dung Quat Mill and 3 at Hai Duong Mill. In addition, Hoa Phat is operating an electric furnace in Hung Yen, specializing in producing steel from scrap with a capacity of 400,000 tons/year.Vietnam has used closed-loop blast furnace technology from iron ore to finished products with the highly automated operating mode of SMS group (Germany). Therefore, the reaction process in the furnace occurs faster and more efficiently and removes impurities better.5. The Hoa Phat Dung Quat 2 project is expected to be completed in the first quarter of 2025Hoa Phat Dung Quat 2 Iron and Steel Production Complex Project is invested and built in the Dung Quat Economic Zone with a designed capacity of 5.6 million tons of flat steel/year, 5.6 million tons of HRC/year, and a total investment of about approximate 85,000 billion VND. This is one of Hoa Phat's key projects, promising that when completed, the total annual HRC capacity will reach 8.6 million tons and crude steel capacity of more than 14 million tons by 2025. The factory was started in May 2022 and is expected to be completed in the first quarter of 2025.In 2023, Hoa Phat continues to promote large-scale projects such as Hoa Phat Dung Quat 3 Iron and Steel Production Complex (312 hectares), capacity of about 5.6 million tons/; Iron alloy Ferro project (300 hectares); investment in an industrial park (800 hectares); Port system and logistics area serving Complex 3 and satellite projects (113.5 hectares)...6. MRS Steel - reputable and quality supplier of Hoa Phat steelMRS Steel is a long-time partner in sourcing and importing Hoa Phat steel products to many markets such as the US, EU, UK, Japan,... Instead of spending a lot of time and money searching about the Vietnamese steel market, policies, procedures, and import processes, many customers have chosen MRS Steel as a quick, quality steel import solution.MRS Steel uses its extensive network of connections to provide the best steel products at competitive prices. We also ensure our products meet the necessary international standards, ensuring the highest levels of safety and durability. For any quotation or consultation needs, please contact us via Whatsapp: +84 76 911 2358 for the fastest support.

With its colossal steel production capacity, China dominates the world steel market with more than 50% of global steel production. As the country with the most developed steel industry, many of the world's leading steel manufacturing enterprises are Chinese enterprises. Let's look at the 5 largest steel manufacturers in China in 2023 with MRS Steel.Baosteel Group Corporation - The world's leading steel manufacturersBaosteel, also known as Baowu Steel, was founded in 1978 and is headquartered in Pudong, Shanghai. After more than 30 years of development, Baosteel has become one of the world's leading steel manufacturers with the world's leading competitiveness and advanced level of manufacturing industry... With over 130,000 employees, Baosteel focuses on producing three main product groups: carbon steel, stainless steel, and special steel. Baosteel's products meet domestic demand and are now exported to over 40 countries and territories. Baosteel's products are widely applied to many industries, such as automobiles, household appliances, machinery, energy,...Hebei Iron and Steel GroupHesteel Iron and Steel Group (also known as HBIS) was founded in 2008 and is headquartered in Shijiazhuang, Hebei, China. With a capacity of 30 million tons per year, it is one of the major steel manufacturers in China. With outstanding competitiveness and production ability, HBIS is the world's third-largest steel producer after over 10 years of operation. HBIS mainly produces wire rods, cold-rolled plates, hot-rolled steel, bars, hot-rolled plates, vanadium oxide, galvanized plates, welded pipes, and other products based on the requirements. HBIS is also the world's second-largest producer of vanadium-titanium materials and a pioneer in ocean and steel engineering for bridge construction.Jiangsu Shagang Group Company LimitedJiangsu Shagang is one of China's top 5 steel manufacturers, established in 1975. After nearly 50 years of operation, Jiangsu Shagang has more than 45,000 employees. It produces about 18 million tons/year, and the main product line consists of rebar, wire rod, plate, and hot rolled coil. In addition, Jiangsu Shagang also manufactures stainless steel and galvanized steel sheets. Together with Baosteel and HBIS, Jiangsu Shagang also became the world's 4th largest steelmaking enterprise, contributing to the development of China's steel industry.Angang Steel Company LimitedAngang Steel was merged into two companies, Anshan Iron and Steel Group and Pangpang Group Co., Ltd., in May 2010. Angang Steel is a state-owned steel producer under the supervision of the State Council of the People's Republic of China. It is also the second-largest steel manufacturer in China. Angang Steel's main products are billet, cold-rolled plate, color-painted plate, coil, thick plate, and heavy rail. With regular maintenance and modern equipment, Angang always produces high-quality products. Until now, Angang's products have been exported to more than 60 countries and regions worldwide.Shougang Group Company Limited - China's oldest steel manufacturersShougang Steel Manufacturers was founded in 1919 and is headquartered in Beijing. Shougang represents the epitome of China's iron and steel industry. Shougang has developed into a large, cross-industry, transnational corporation but still takes the steel industry as its primary industry. Since 2014, Shougang has deepened reform and entered the stage of comprehensive development. The company's products are mainly auto sheet, electric steel, and tin plate. After 100 years of establishment and development, Shougang's products are not only favored by the domestic market but also by the foreign market.Above is a list of five major steel factories in China in 2023. Hopefully, this list will be a valuable reference for those who require information about Chinese steel manufacturers. This list will still be updated continuously, so do not forget to follow MRS Steel to receive many other new and valuable pieces of information.