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The Trade Defense Agency (Ministry of Industry and Trade) has just warned about the risk of Canada investigating and applying trade defense measures to steel imported from Vietnam.According to the Trade Defense Agency, with the policy of monitoring and tightening management of steel imported to protect the domestic market, it is expected that in the coming time, Canada will continue to research and investigate products, type of steel imported from Vietnam. The items targeted by Canada are Vietnam's main export products including concrete reinforcement steel, anti-corrosion steel plates, steel coils and oil pipeline steel. This item is widely used in prestressed concrete wire (PC Wire), umbrella frames, tire bead wire (TBW), piano wire, wire cores for conductors, cables used in elevators and cranes, welding electrode cores and nails.For Canada alone, there have been 18 trade defense cases. Of these, there have been eight trade defense cases with steel imported from Vietnam. Specifically, there are 5 anti-dumping cases, 2 anti-subsidy cases and 1 self-defense case. According to statistical data from Trademap, an updated database system on the trade situation of countries established by the International Trade Center (ITC), Vietnam's export turnover of steel wire products to Canada has increased rapidly in recent years. For example, in 2020, Vietnam exported about 10 million USD of steel wire to Canada. The export turnover of this item doubled to 21 million USD in 2021 and continued to grow strongly, reaching about 40 million USD in 2022.This shows that our country's goods exports to Canada are being actively supported by the implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), effective January 2019. Currently, Vietnam is Canada's leading trading partner in ASEAN and Canada's 6th largest trading partner in the group of 40 Indo-Pacific countries.The absolute increase in value is one of the criteria for Canada to conduct an investigation and apply trade defense measures against Vietnamese steel wire. Based on this database, the Trade Defense Agency issued a warning about the risk of Canada investigating and applying trade defense measures to steel imported from Vietnam and recommended that businesses, related associations and businesses review the export of steel wire to the Canadian market (refer to the following HS codes: 7223, 7213, 7227 and 7306).According to experts, this move is a wake-up call to advise businesses to proactively research regulations and procedures to respond in case Canada conducts an investigation into trade defense cases against imported products, such as steel imported from Vietnam. In cases of investigation, the association and related businesses need to have a strategy to participate and handle the case, fully cooperate at the request of the investigation agency and regularly coordinate to receive support from the Trade Defense Agency. Canada is a potential market for Vietnam's exports. If goods are handled and recalled, it will cause great damage to domestic businesses.Above is information about the Trade Defense Agency warning businesses to be careful because steel imported from Vietnam may be investigated by Canada. We will continuously update information about this incident; please follow the website to get the latest information about this incident.

In January 2024, Vietnam exported more than 1.16 million tons of steel with a value of more than 822.65 million USD and imported nearly 1.49 million tons of steel with a value of 1.06 billion USD. Notably, Vietnam's steel exports in 2024 will have many positive bright spots thanks to rising world steel demand and support from developed economies.1. Steel export situation in January 2024According to statistics from the General Department of Customs, as of January 2024, Vietnam's steel exports have increased for 4 consecutive months, reaching more than 1.16 million tons with a value of 822.65 million USD, an increase of 7.1% in price and 7.4% in value compared to the previous month; increased by 72.6% in volume and 80% y/y in 2023. The average export steel price also increased by 0.3% over the previous month and increased by 3.9% over the same period in 2023, to 709 USD/ton.2. Steel import situation in January 2024Conversely, steel imports in January 2024 reached nearly 1.49 million tons with a value of 1.06 billion USD, an increase of 27.3% in volume and 22.3% in value compared to December 2023; increased sharply by 151.2% in volume and 101.6% in value y/y in 2023. The average imported steel price reached 712 USD/ton, down 3.9% over the previous month and down 19.7% over the same period in 2023.Steel scrap imports in January 2024 also decreased after 3 consecutive months of increase, reaching 356,301 tons with a value of 140.96 million USD, down 18.8% in volume and 9.6% in value compared to the previous month. The average price of imported scrap steel reached 396 USD/ton, up 11.3% over the previous month and up 2.7% over the same period in 2023.3. Positive expectations for the steel industry in 2024The above positive results raise high hopes for the steel export market in 2024. Export volume in the following months can maintain growth thanks to a positive global demand outlook. According to the World Steel Association, world steel demand is expected to increase by 1.9% in 2024, demand from developed countries is expected to increase by 2.8%, of which the US and Europe will increase by 5.8% and 1.6%, respectively. On the other hand, steel demand of ASEAN countries (except Vietnam) is expected to increase by 5.2% in 2024, up 1.4% compared to 2023.It is expected that Vietnam's steel export output will improve in the first quarter due to the increasing difference between prices in North America and Europe compared to steel prices in Vietnam. In addition, Europe also issued sanctions and strictly controlled the import of semi-finished steel products from Russia while supporting the import of Vietnamese steel.

Recently, Pomina Steel plans to consider increasing the investment level of the Pomina 3 blast furnace project to VND 5,800 billion. At the same time, the company wants to establish a new legal entity with a strategic investor to comprehensively restructure the business.Pomina Steel Joint Stock Company has just announced the 2024 Extraordinary General Meeting of Shareholders documents with some notable content. Specifically, this steel manufacturer will submit to shareholders for review and approval of the settlement approval proposal and increase the blast furnace investment at Pomina 3 by more than 904 billion VND to nearly 5,880 billion VND. This additional adjustment is equivalent to an increase of 18% compared to the initial expected investment level. Pomina Steel Board of Directors requests shareholders to review, approve, and approve the above proposal so that the company can complete the project procedures.The Pomina 3 blast furnace has been deployed since 2019 and put into production in February 2012. Currently, according to the fourth quarter 2023 financial report, Pomina Steel recorded costs of up to 5,808 billion VND (accounting for more than 55% of total corporate assets) to implement the blast furnace and EAF furnace projects.In addition, Pomina Steel plans to submit to shareholders a comprehensive restructuring plan for Pomina through cooperation with strategic investors to establish a new legal entity, Pomina Phu My Joint Stock Company. In particular, Pomina Steel will contribute capital in kind to all land, factories, and equipment lines. Strategic investors contribute capital in cash. Strategic investors, charter capital, and ownership structure are expected to be presented specifically at the congress. Pomina Steel said that the strong restructuring, especially with the participation of strategic investors, is a milestone, marking an important turning point for the company. This strategic cooperation will provide the necessary capital for the company to restart the steel billet blast furnace. It is expected that Pomina Steel will operate the blast furnace again in the fourth quarter of 2024 after a period of shutdown to anticipate the return of real estate projects that are expected to recover strongly in the last months of the year.Previously, at the end of January 2024, Pomina Steel announced the temporary suspension of its plan to privately issue more than 70 million shares (equivalent to 20% of the company's charter capital) at a price of 10,000 VND per share to investors. Nansei Steel Strategy (Japan). These shares will be restricted from transfer for 3 years. Pomina Steel once expected to earn about 700 billion VND from the above capital sale deal to restructure and supplement capital for business activities.2023 was be an unfavorable business year for Pomina Steel, recording revenue of 3,281 billion VND, down 74.6% compared to 2022 and continuing to report a net loss of 960 billion VND compared to a reported loss of nearly 1,167 billion VND. in 2022. Thus, Pomina's total accumulated loss has reached nearly 1,271 billion VND, equivalent to 45.4% of equity. This is also the highest loss during the business's 25 years of operation.Pomina Steel's board of directors said the cause of the loss was mainly due to weak consumer demand, a sharp decline in steel prices, and the high fixed costs of the newly put into operation blast furnace project. Besides, the use of high financial leverage also "erodes" the profits of this steel company.Currently, Pomina Steel has three construction steel billet and rolling mills with a total capacity of 2.6 million tons. Of which, steel billet refining capacity is 1.5 million tons per year, and construction steel rolling capacity is 1.1 million tons. Pomina Steel currently focuses mainly on construction steel, with the key market being the southern provinces.

Vietnam's steel market is considered a new bright spot in the outlook of the global steel industry by the many factories with large annual capacity operating advanced technical lines. This post today will list the top 5 Vietnam A class steel factories in 2024.Hoa Sen GroupOwning more than 11 large-capacity steel mills across the country, Hoa Sen is currently leading the coated steel sheet segment in Vietnam with an output accounting for more than 35% of the coated steel market share in 2021. The machines at the factory are invested with a push pull pickling line with a capacity of 1.9 million tons/year, NOF lines to help clean the surfaces of corrugated iron with a total capacity of more than 2.2 million tons/year. In addition, the cold rolling mill is designed according to German Esmech technology with an annual capacity of more than 1.6 million tons.Besides the main product segment of galvanized steel sheet, Hoa Sen also promotes the steel pipes and zinc pipes segmentations. During the past years, the group has established 6 factories specializing in manufacturing steel pipes with a total capacity of more than 1.2 million tons/year. Hoa Sen's steel pipe market share has maintained the 2nd position for many consecutive years in the fierce increasing steel production race in Vietnam.All output steel products at Hoa Sen factories currently meet strict international standards including JIS of Japan, ASTM of USA, AS of Australia, BS of UK and EN standards of Europe. The diverse types of products and optimal quality standards in each steel output have helped Hoa Sen reach many major markets around the world.Hoa Phat Steel Factory - the leading complex Vietnam A Class steel factories Hoa Phat Steel Group was established in 1992 and with more than 30 years of operation, the group has gradually dominated the Vietnam steel market by continuously maintaining the No. 1 in construction steel market share . Currently, Hoa Phat is operating 3 factory complexes including the Hai Duong iron and steel factory complex, the Dung Quat iron and steel factory complex, and the Hung Yen steel mill.The Hai Duong iron and steel factory complex since being put into operation has provided a capacity of 2.5 million tons of steel per year including billets and bars. In addition, Hoa Phat steel pipe, which is one of the key products of the group, with a capacity of 1 million tons/year, has helped Hoa Phat maintain its dominant position in the steel pipe market in recent years. Moreover, Hoa Phat Group started to supply galvanized steel sheet products to the market every year since 2018, after only 5 years of experience in producing galvanized steel, Hoa Phat has quickly built a production line system with a capacity of reaching 400,000 tons/year.The year 2020 has marked an important milestone for Hoa Phat when the group has added a new product that is producing HRC (hot rolled coil). The whole equipment of HRC factory is designed according to modern technology of Danieli Group from Italy, including many continuous equipment clusters from smelting - billets casting  - flat rolling. The total capacity is designed to reach 3 million tons of HRC/year, Hoa Phat's HRC product promises to bring new breakthroughs to help the domestic steel industry be more proactive in finding the input raw materials and limiting imports from abroad.Ton Nam Kim steel manufacturers Ton Nam Kim tith the beginning as a company specializing in manufacturing galvanized steel products, the company has always pioneered and applied the most modern steel production technologies to the line. During years of experience in the steel section, they became the second position in galvanized steel market share. Currently, Nam Kim owns 2 coating steel mills with a total capacity of up to 1 million tons/year. In addition, Nam Kim also invested in the field of steel pipes when operating 2 steel pipe factories with a total capacity of more than 270,000 tons/year.The whole Ton Nam Kim factory uses modern steel production technology from Europe such as SMS technology from Germany and Drever from Belgium. The input materials here are imported directly from quality steel grades from Nippol Steel (Japan), Hyundai Steel (Korea) and CSC (Taiwan). The company pays attention to product quality control, all steel products must go through the close examination stages before being put on the market. The output products at the factory fully meet the international standards of JIS, ASTM, BN and AS.Since its establishment, Nam Kim has officially managed a series of advanced production lines such as a pickling line equipped with an acid regeneration system with a capacity of 900,000 tons/year. Ton Nam Kim also owns the first cold rolling mill with 2 stands and the first 6 cold rolling mills in Vietnam to help increase capacity by twice. Currently the total capacity of the cold rolling mills at the factory reaches 900,000 tons/year.Ton Dong A Corporation - one of the top Vietnam A class steel factoriesTon Dong A Corporation with the main field is trading and manufacturing galvanized steel products such as galvanized steel, galvalume steel and prepainted galvanized/galvalume steel. With the goal of becoming one of the top Vietnam A class steel factories, the group has continuously invested in equipment and production lines throughout its operation.Ton Dong A currently owns 2 steel factories including 4 galvalume production lines with NOF technology, 1 pre-painted galvanized line, 1 pickling line and 2 cold rolling mills. The lines at the factory are designed by steel production technology including Danieli (Italy) and Fata Hunter (USA).The company aims to produce high-quality galvanized/galvalume products, the input materials at the factories are always carefully checked and sourced from quality suppliers such as JFE, Kobe, Nippon (Japan), Posco (Korea) and Baosteel (China). The total capacity of galvanized steel products at Ton Dong A's factories is more than 1 million tons per year, which has helped them to distribute the network of products spreading from ASEAN regions to large markets such as Europe, America, Australia and Japan.Southern Steel Sheet Company Limited (SSSC)Southern Steel Sheet Company Limited is a joint venture between Vietnam Steel Corporation, Sumitomo Corporation (Japan) and FIW STEEL SDN BHD Company (Malaysia). Possessing 30 years of establishment and operation, SSSC is currently the one of the leading suppliers of galvanized/galvalume steel and pre-painted galvanized/galvalume in Vietnam.Up to now, the company has owned 2 factories including 2 galvanizing lines and 3 color coating lines, of which galvanizing line with capacity of 250,000 tons/year and color coating line with total production volume of more than 320,000 tons/year. The production lines at the SSSC factory applied the most advanced technology in the world such as Tenova of Italy. The output steel products at the factory always meet strict standards such as JIS G3321 and JIS G3312 of Japan, ASTM A653/A653M of the US.These steel factories not only bring quality product grades to the market every year, but also they generate jobs for thousands of workers, contributing certain values to the development of the community economy. Through the above article, MRS Steel hopes that you will have a more overview of the top Vietnam A class steel factories in 2024 to make you better understand the steel market here! 

According to the World Steel Association (WorldSteel), in 2023, global crude steel production reached 1,888 million tons, with Vietnam contributing 19 million tons to this figure. Despite a 5% decrease in crude steel production compared to 2022, Vietnam's notable achievement is an upward shift in its ranking, reaching 12th place globally among the 71 countries listed.Vietnam's crude steel production decreased by 5% but climbed one position in the rankingsIn 2023, Vietnam achieved a notable milestone as its crude steel production surpassed that of Taiwan, securing the 12th position in the global rankings. This highlights a positive outlook for steel demand in Vietnam, despite the ongoing incomplete recovery of the domestic real estate market. Additionally, leveraging political advantages, countries in the Middle East view Vietnam as a promising destination for steel imports. Experts emphasize that Vietnam's steel export volume in 2023 also benefited partly from the weakened export activities of competing nations such as China, India, and Turkey, creating opportunities to boost production capacity in the country.Vietnam ranks among the top 12 countries with the highest global crude steel production in 2023Predictions for 2024 anticipate a positive recovery in both demand and steel prices in Vietnam, with raw material prices forecasted to significantly decrease. This is expected to lead to a substantial increase in the Vietanm steel industry's profit margins. The primary driving force for domestic steel consumption comes from the expected strong recovery in the civil construction sector, while the industrial and infrastructure construction segments are projected to sustain growth throughout 2023.Regarding the export sector, the World Steel Association notes that the growth in infrastructure construction activities in the ASEAN, U.S., and EU markets, coupled with the benefits from bilateral agreements, will boost Vietnam's steel export activities this year. Therefore, it is expected that Vietnam's crude steel production in 2024 will experience a more robust increase compared to the current year, driven by both domestic and international market dynamics.China and India are the two largest steel producers globallyChina has once again maintained its position as the leading country in the global steel industry. In the past year, 2023, the country produced a staggering 1,019 million tons, sustaining its production at a stable level after two consecutive years of decline. According to analysts from S&P Global Commodity Insights, China's steel production is anticipated to decrease by 0.5% in 2024 as domestic plants seek solutions to address excess supply issues along with weak profit margins. This outcome is expected to lead to another prediction that China's iron ore imports will decline due to the slowing down of steel production.The statistical chart of raw steel-producing nations for the current year also reveals a remarkable surge in India's production, driven by robust domestic demand and infrastructure projects supported by the government's ongoing initiatives. In 2023, India recorded a noteworthy growth, with a production increase of 11.8% compared to the previous year, reaching an impressive 140.2 million tons. Notably, amidst the global decline in steel demand, India continues to maintain its position as one of the countries with the highest growth rates in crude steel production and stands out as one of the few nations showing positive growth trends.The monthly crude steel production figures for China and the world in 2023Crude steel production in Europe decline from weak demandOverall, crude steel production in Europe is reported to have decreased by 6.7% in 2023 compared to 2022. Among the 71 countries listed, the majority of nations in the European region witnessed negative growth. Specifically, Germany, recording its lowest crude steel production since 2009 with around 35.4 million tons in 2023, marked a 3.9% decrease from the previous year. Similarly, the second-largest steel producer in Europe, Italy, also exhibited a 2.5% reduction in production to 21.06 million tons.The simultaneous decline in steel production can be attributed to low consumption demand and high energy prices, presenting challenges for factories in the region. The steel industry in Europe is grappling with high production costs due to increased energy prices since the conflict between Russia and Ukraine, alongside an influx of cheaper imported products that impose limitations on local steel manufacturers.The production downturn is not limited to domestic output; steel exports to the EU also witnessed a 5.57% reduction in 2023 compared to the same period. However, the growth rate of steel exports to new markets, including Western Asia and Central Asia, experienced a substantial increase. The persistence of inflationary cycles and the strong impact of trade protectionism are considered the primary impediments to steel exports from other countries to this region. 

Steel is one of the most common materials in the world as it appears everywhere from skyscrapers to a presence in consumer goods daily. There have been some questions about whether the depletion of steel raw materials will occur, in fact, steel has an endless recycling capacity and manufacturers took advantage of “steel recycling” method to produce steel for a long time.The position of steel recycling in the eco-friendly manufacturing trendingEnvironmental protection has always been a top concerned topic when the climate is clearly changing, which has seriously affected the ecosystem. In addition to some measures preventing environmental waste such as limiting the use of plastic and not littering, the application of steel recycling is a solution that brings optimized cost along with saving resources.Steel recycling brings endless value to the economy because it is conservation and is a radical solution to wasting resources. Because steel has metallurgical properties, meaning that it can be melted and solidified later. Let's think about how millions of tons of scrap steel each year, instead of being discharged into the environment, are melted down to continue to be used for the manufacturing industry. According to statistics, steel is the most recycled building material in the world with about 40% of total steel production based on scrap recycling.The benefits that steel recycling brings to eco-friendly economySteel recycling creates an endless ring An interesting fact about steel is that they can be recycled consecutively without losing their inherent durable properties. The iron elements in steel cannot be destroyed, so the manufacturer will proceed to melt the steel and add some other alloying elements to create new steel products. Just like that, the life cycle of steel repeats continuously and helps many businesses optimize costs in exploiting materials for production.Saving energy & natural resourcesRecycling steel allows people to better protect natural resources as the energy used in recycled steel will be much less than making steel by blast furnace production. For each ton of recycled steel, 1 ton of iron ore and 600 kg of coal are saved. Moreover, the energy saved from steel recycling can be used for more than 18 million households in 1 year.Reduce wasteThanks to recycled steel, the area for landfill has been significantly reduced because scrap collection is the first process to be able to recycle steel. Every year, the world produces an average of 1 billion tons of steel and without recycling methods, the world's waste will have no place to be.Decreasing emissionsAccording to research, every 1 ton of steel produced from ore is equivalent to releasing 100 kg of dust and 10,000m3 of emissions to the environment because producing steel from ore requires a lot of coal and the ore itself contains only 50% of iron. Meanwhile, scrap steel contains up to 97% of iron, so recycling through scrap steel can significantly reduce emissions to the environment and help businesses save costs of input coal.Create more jobs and income for people: the steel recycling industry has been creating jobs for hundreds of thousands of people around the world by collecting scraps or conducting sorting in recycling plants .Thanks to that, the number of unemployed people will be reduced and social evils will be limited.Currently, Vietnam is also one of the countries that have policies on greening in production and more Vietnamese businesses have begun to pay attention to the promotion of recycling. For example, Hoa Phat has built a blast furnace slag recycling plant to produce cement, they also invested in a heat-to-electricity conversion line to prolong the added value chain, reduce waste treatment costs and protect the environment.Recycling steel is now considered a very viable option for the economy because it helps to conserve energy, supports businesses in proactively having available input materials when there is no need to exploit natural materials.