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Vietnam's steel market is increasingly asserting its foothold in the market as businesses begin to export Vietnamese steel products to the international market. Read the article below to better understand one of the reputable steel exporters in Vietnam.1. Steel market overviewAfter days of stagnation by COVID-19, the steel industry is experiencing strong recovery and transformation steps. According to the forecast of the Global Steel Association, steel demand in 2024 will be 135.8 million tons. Manufacturing is expected to lead the recovery, but high interest rates will continue to weigh heavily on steel demand. In 2024, steel products are expected to accelerate in most regions but decline in China.In Vietnam, steel consumption in the first 11 months of 2023 reached 23.7 million tons, declining by 5.6% over the same period last year. Accordingly, domestic demand for steel continued to decline sharply due to the stagnant real estate market and tight monetary policy. Meanwhile, the export market is still not favorable due to the recession in many economies around the world.2. Benefits of importing steel from VietnamAs one of the countries with a developing steel industry, Vietnamese steel is increasingly gaining a foothold in the market. By importing Vietnamese steel products, importers will get the following benefits:Product qualityProduct quality is always a key factor that steel manufacturers in Vietnam are interested in. The production of high-quality steel products not only helps consumers feel secure about the product but also helps businesses affirm their reputation and position on the world steel map.Competitive priceAlong with product quality, price is always what steel manufacturers aim for. With the signing of more than 15 FTA, importers will reduce costs when importing steel products originating from Vietnam.Abundant supplyIt is a developing market with many large steel producers. Choosing to import steel products from the Vietnamese market helps importers have more choices and diversify their products.3. MRS STEEL - Trusted partner to import steel from VietnamMRS Steel is based in Vietnam, specializing in the export of high-quality steel products to various destinations across the globe like EU, USA, Canada, Mexico, Australia, Middle East, Southeast Asia... With over 12 years of experience in the steel industry, MRS Steel have built a reputation for providing reliable, efficient, and cost-effective steel solutions to customers.At MRS Steel, we understand the importance of quality, reliability, and timely delivery to our customers around the world. That is why we work closely with our customers to ensure that their needs are met with the highest level of professionalism and excellence. We pride ourselves on offering a wide range of steel products that meet the needs of various industries, including construction, automotive, energy, manufacturing, and more.We have exported more than 358,000 tons of steel of all kinds to more than 235 customers from all over the world. With professionalism and dedication, all steel products from MRS Steel are trusted and selected by customers.. Working with the goal of putting customers at the center, we are always ready to support, answer questions, and meet the needs of customers 24/7. Customer satisfaction is the pride and development motivation of the MRS Steel team.4. The main exported products of MRS SteelCurrently, MRS Steel focuses on exporting mainly flat steel products:PPGI/PPGL GI/GLHRPOHRCCRC...We leverage our extensive network of suppliers and partners to source the best quality steel products at competitive prices. We also ensure that our products meet the required international standards, ensuring the highest levels of safety and durability.At MRS Steel, we believe that our success is rooted in our commitment to building long-term relationships with our customers. We are dedicated to providing excellent customer service and support, and we strive to exceed our customers' expectations at every turn. If you need to buy steel products, please contact us HERE.

A new crisis is brewing in the Red Sea, one of the world's vital trade routes, with the potential to disrupt supply chains and drive up oil prices and inflation. This comes at a time when economic growth is slowing down.Red Sea - Important Maritime TransportationAs one of the crucial maritime routes, it accounts for approximately 15% of global maritime transportation volume. The Red Sea shows no signs of easing tensions, especially as recent Houthi warnings indicate a potential expansion of their targets in the region if the United States launches a campaign against their forces.The mentioned developments come shortly after Washington announced the formation of a coalition comprising various countries, including the United Kingdom, France, Italy, Spain,... to address Houthi attacks on shipping in the Red Sea. Simultaneously, this coalition has deployed military assets to counter missile and drone attacks.Conflict in the Red Sea and the Risk of an International Transportation CrisisThe Suez Canal is currently the shortest maritime route connecting Asia and Europe, accounting for approximately 15% of global maritime traffic. The conflict in the Red Sea has a significant impact on the global transportation and trade situation. This route is closely linked to the Suez Canal, meaning that ships avoiding the Red Sea also have to steer clear of the crucial route through the Suez Canal. This canal is one of the seven critical chokepoints for global transportation.The drone and missile attacks by Houthi forces in Yemen on vessels navigating the Red Sea are forcing global shippers to reroute their journeys around the Cape of Good Hope in Southern Africa. This redirection extends the sea travel time by an additional 10–14 days. The harsh weather and frequent rough seas at the Cape of Good Hope and the Mozambique Channel result in faster fuel consumption, leading to increased fuel costs. Additionally, vessels face numerous challenges, including fuel replenishment, cargo restocking, customs issues, overloading and inadequate infrastructure at African ports.These wars are creating a significant risk of disruption to transportation activities through the Suez Canal and the Red Sea, leading to increased shipping costs for various types of vessels, including tankers, container ships, and bulk carriers, thereby indirectly supporting the recovery of oil prices. Additionally, ships passing through the Red Sea are facing significantly higher conflict-risk insurance premiums, with current fees having surged by fivefold. Meanwhile, many transportation experts believe that disruptions in routes may lead to a situation where ships are in the wrong position and containers are misplaced, resulting in port congestion.In the face of the complex developments in the Red Sea and economic risks, the United States, the European Union (EU), the North Atlantic Treaty Organization (NATO) and several countries, including Yemen, have issued a joint statement condemning Houthi interference in maritime rights and freedoms.If the “Red Sea crisis” persists for only a short period, consumers may not notice much, except for possibly higher energy prices. However, if the situation prolongs, it not only affects maritime transportation but also poses a risk of uncontrollable inflation impacting the world.

As one of the first steel conglomerates in the United States, US Steel has played a crucial role in the development of the country's steel industry. However, currently, US Steel has been acquired by Japan's Nippon Steel for $14 billion USD.US Steel was founded in 1901 by some of America's most prominent tycoons, including Andrew Carnegie, J.P. Morgan, and Charles Schwab. The company played a vital role in the recovery of the American industry after the Great Depression and World War II. In 2022, US Steel ranked as the 24th largest steel producer globally and the second-largest in the United States, following Nucor Corporation.In recent times, the stocks of US Steel, based in Pittsburgh, have been performing poorly after several quarters of declining revenue and profits, making the company an attractive acquisition target for competitors. On December 18, 2023, Nippon Steel announced an agreement with US Steel to acquire the company for $14.1 billion USD. This deal positions Nippon Steel to expand global crude steel capacity toward the goal of 100 million tons. This strategic move comes after Nippon Steel outbid competing rivals, including Cleveland-Cliffs Inc., in an auction.According to the World Steel Association, in 2022, Nippon Steel's production of high-quality crude steel reached 44.37 million tons, ranking fourth globally. Therefore, the acquisition of US Steel will elevate Nippon Steel to the third position in global steel production. This represents a significant step for Nippon Steel in its efforts to strengthen its position in the steel industry and enhance production capabilities on a global scale.Accordingly, after announcing the acquisition of the US Steel Group, Nippon Steel's stocks experienced a nearly 5% decrease. The stock decline occurred as shares of the steel manufacturer based in Tokyo opened with an excess of sellers, leading to a trading price of around 3,085 yen, marking a 4.7% decrease compared to the previous day's closing value.The acquisition takes place at a time when the steel industry is facing several challenges, including fluctuating demand and the need for technological advancements to reduce carbon emissions. Nippon Steel's move to acquire US Steel is expected to create a synergistic strength that could lead to more efficient production and help ensure a more stable supply of raw materials for Nippon Steel.US Steel has announced that the transaction with Nippon is expected to conclude in either the second or third quarter of 2024, depending on regulatory approval. However, the Committee on Foreign Investment in the United States, an agency that carefully examines transactions to identify potential national security risks, is expected to reassess this deal. If the agreement is not approved in this case, Nippon will owe US Steel USD 565 million.Here is the latest information on Nippon Steel's acquisition of the US Steel plant in the United States. However, there is still no official result in this matter. Stay tuned to MRS Steel, as we will provide the most up-to-date and accurate information on this transaction for our readers.

After a thorough investigation, the US Department of Commerce has concluded that steel pipe products imported from Vietnam did not evade the anti-dumping and countervailing duties that the US applies to similar goods from Taiwan.It's known that on August 4, 2022, the US Department of Commerce issued a notice to initiate an investigation into the circumvention of trade defense duties on certain steel pipe products. Primarily, products falling under HS codes 7306.61 and 7306.30 were imported from Vietnam, with allegations that Vietnam imported the main raw material for producing the steel pipe hot-rolled coil from China, Taiwan, South Korea, and India, then performed simple processing to manufacture the steel pipes, which were subsequently exported to the US. This process was purportedly aimed at evading the corresponding anti-dumping and countervailing duties that the US applies to these countries and territories.This investigation was conducted following suspicions that goods from Vietnam were being sold at lower prices to evade anti-dumping and subsidy tariffs. The investigation focused on determining whether these steel pipe products were manufactured at lower costs due to non-transparent subsidies.After conducting an investigation and gathering information from relevant parties, the United States recently reached a significant conclusion regarding the anti-avoidance duty investigation related to the import of steel pipes from Vietnam. According to the announcement from the US Department of Commerce, following a thorough investigation, it was concluded that steel products imported from Vietnam did not evade the anti-dumping and countervailing duties that the US applies to similar items from Taiwan. This determination was based on Vietnam not using hot-rolled coil steel from Taiwan to manufacture the steel pipes.For other steel pipe products also under investigation for anti-avoidance measures (initiated on July 29, 2022), on July 20, 2023, the US Department of Commerce announced an extension of the deadline for issuing the final determination until November 2, 2023. Recently, on November 9, the US Department of Commerce published the final determination on the case. In this final determination, the US Department of Commerce maintained the same conclusion as the preliminary finding issued in April 2023.However, the Ministry of Industry and Trade noted that the US Department of Commerce continues to allow Vietnamese exporters (except for companies determined by the US Department of Commerce to not fully cooperate during the investigation) to participate in the mechanism of self-certification, confirming that they do not use hot-rolled coil steel originating from China, Taiwan, South Korea or India to be exempt from measures.In fact, the US investigation into anti-avoidance duties isn't just a message about fair trade management, it's also evidence of the tension within international trade relations, particularly amidst escalating trade tensions between nations. This also presents new challenges and opportunities for steel pipe manufacturing enterprises in Vietnam to adjust their business strategies, enhance fair competition advocacy, and comply with international trade regulations.Given these developments, understanding and adhering to international regulations, as well as fostering a fair competitive environment, have become crucial factors for businesses to thrive and adapt in an increasingly volatile international market.

According to statistics from the General Department of Customs, Vietnam's iron and steel exports of all kinds in October 2023 reached 908,142 tons, an increase of 5% compared to September and a sharp increase of 71.5% compared to the same period in 2022. Vietnam is aggressively penetrating major markets like the United States, India, Italy, Singapore,… offering extremely competitive prices.1. Vietnamese steel export situation 10M/2023According to the General Department of Customs, accumulated in the first 10 months of 2023, Vietnam's iron and steel export output of all kinds reached over 9.1 million tons, equivalent to 6.95 billion USD, up 30.7% in volume and up 0.1% in value compared to the same period last year. The average export price of 10M/2023 reached 760 USD/ton, down 23.4% over the same period last year.By the end of October 2023, the 10 largest Vietnamese steel import markets were Italy accounting for 14.8%, Cambodia (9.9%), the United States ( 9.1%), India (8%), Malaysia (7.2%), Indonesia (6%), Belgium (5.4%), Spain (3.9%), Taiwan (3.4%) and Thailand (3.1%).2. Bright spots in Vietnam's steel exports2.1. Southeast Asia regionSoutheast Asia is still the main export market of Vietnam's steel industry, accounting for 31.5% of the proportion. However, in the first 10 months of 2023, exports to this market decreased slightly by 2.6% compared to the same period in 2022, mainly due to down 13% in exports to the largest market, Cambodia. In contrast, exports to markets like Malaysia, Indonesia, Thailand and Singapore still increased compared to the same period last year.2.2 EU marketThe highlight in the steel export situation in the first 10 months of 2023 is the EU market has positive growth rates compared to the same period in 2022. Specifically, Italy imported the most steel from Vietnam with over 1.35 million tons, an increase of 128%, followed by Belgium with 0.49 million tons, an increase of 30% and Spain imported 0.35 million tons, an increase of 70.2%.According to the European Steel Association (EUROFER), Vietnam accounted for 8.1% of the total amount of finished steel products imported into Europe by the end of August 2023. Another positive signal for Vietnam's steel industry is that Europe's imports of finished steel products from Turkey, China and India decreased sharply (-59%, -11% and -3% respectively) while imports from Vietnam increased by 15%.2.3. Indian marketNotably, steel exports of all kinds to India in October reached 198,418 tons, worth 139.6 million USD, an increase of 2,346% in volume and an increase of 1,103% in turnover compared to October 2022. This is also the month recording the highest export output since the beginning of 2023.In the first 10 months of 2023, India has become Vietnam's 4th largest steel export market with a total output of over 0.73 million tons, a value of over 539.7 million USD, an increase of nearly 16 times in volume and an increase of 7.8 times in value compared to the same period in 2022. The main export items were hot-rolled steel coils and galvanized steel sheets, of which HRC is a new product that India has not imported from Vietnam in the 2021/2022 financial year.2.4. Cambodian marketCambodia, Vietnam's largest steel export market in 2022, dropped to second place in 2023 due to a decrease in both output and export turnover. As of October 2023, Vietnam's iron and steel export turnover to Cambodia reached 612.7 million USD, down 26% over the same period last year; Exported iron and steel output reached over 0.9 million tons, down 13% over the same period. The main export product to Cambodia is mainly construction steel. According to exporters, the amount of construction steel exported to Cambodia decreased partly due to the impact of the COVID-19 pandemic on the real estate market.Vietnam's steel exports have many signs of recovery and positive development in the fourth quarter and early 2024. Many importers from major markets such as the US, EU, UK and India pay a lot of attention to cheap, quality steel from Vietnam. However, in the context of many fluctuations in the world's economic and political situation, the Vietnamese and global steel industry can still experience many sudden changes. You can follow MRS Steel to update the latest steel market information!

How to import quality steel, avoid fraud, commit to delivering the right quantity, on time, and have good after-sales customer service? The common answer to all of these questions is: "Looking for a reputable, quality steel import support unit". Let's explore the qualities that a steel partner should possess with MRS Steel.1. Commitment to quality and continuous improvementWhile price is a crucial factor in purchasing decisions, importers cannot overlook the quality of the products. Quality greatly affects project performance, safety and various complex issues.When selecting a supplier, it's essential to understand who your partner is, their market position and they must have clear and stringent commitments to quality, origin of the goods. Products should meet international standards such as ISO 9001, ASTM, JIS,... and adhere to international quality management systems. Additionally, steel suppliers should continuously invest in and improve their production processes based on feedback from customers.2. Rich experience in steelExperience is a fundamental requirement in any industry, from manufacturing to business. Choosing partners with extensive experience in the field of iron and steel and a certain level of reputation in the market not only helps you feel secure in cooperation but also offers mutually beneficial business solutions.3. Proactive and flexibleIn terms of production process, the factory must be flexible and ready to meet customers' individual requirements. In addition, importers also appreciate the initiative of businesses in always having a certain amount of steel product inventory in case of special cases.4. Adherence to Contract TermsImporting steel often involves a time-consuming and complex process, including customs procedures and multiple stages of shipping. Therefore, it's crucial for steel suppliers to fulfill their contractual obligations to avoid disruptions to customers.5. Excellent after-sales servicesAfter delivering steel orders, the seller's responsibility doesn't end. They must continue to address issues that may arise, such as lack of goods, damage, warranty and return,... Not all companies are equally responsible and capable of handling these risks, so importers need to thoroughly assess a partner's credibility and customer care attitude before deciding to collaborate.6. MRS Steel - Vietnamese steel import solution providerMRS Steel has more than 12 years of experience in the field of sourcing and importing Vietnamese steel to many countries and territories around the world. The company has expanded its operations and has a team of top experts in market analysis, procurement, supply chain, communication,… This allows importers to connect with the largest steel brands in Vietnam at the most optimal cost.With its existing capacity and potential, MRS Steel is the top choice of many importers from the United States, Europe, England, Australia, Mexico, India, Southeast Asian,... when they need high-quality Vietnamese steel. MRS Steel always maintains its strategic vision of becoming the leading supplier and importer of Vietnamese steel in the region, so customers can rest assured to experience the best services from us.If you need to understand the market and import Vietnamese steel, please contact MRS Steel via Email vanloc@mrssteel.com.vn for 24/7 support.