Top 10 Largest Steel Mills in Vietnam 2024
BlogDate: 01-01-2024 by: Nhu Quynh
The steel industry in Vietnam currently comprises over 300 specialized businesses engaged in steel production and trade. If you are looking to import steel products from Vietnam, let's explore the top 10 largest steel mills in Vietnam together with MRS Steel.
Hoa Phat Group
Hoa Phat was established in August 1992, starting with trading in construction machines and gradually expanding to other fields such as iron and steel products,... Hoa Phat is one of the top 10 steel mills in Vietnam today, holding the No. 1 market share in construction steel and steel pipes. HPG's market capitalization reached 11 billion USD, among the top 15 steel mills with the largest capitalization in the global steel industry.
In 2022, Hoa Phat will achieve a revenue of 142,000 billion VND and a profit after tax of more than 8,400 billion VND. The main contributions to Hoa Phat Group's consumption output are construction steel and HRC. Construction steel reached 4.2 million tons, an increase of 10% over the same period and contributed 59% of total steel output of all types. This is also one of the only two steel mills that can produce HRC for the Vietnamese market.
Formosa Ha Tinh
Formosa Ha Tinh Steel is the largest foreign direct investment steel mill in Vietnam. Started construction in 2008, with a total area of more than 3,300 hectares, including a land area of more than 2,025 hectares and a water surface area of more than 1,293 hectares (Son Duong port). With a total investment cost of more than 28 billion USD, Formosa is expected to meet a capacity of 22.5 million tons per year. After completing both phases, the project opens up new development for the Vietnamese steel industry.
Alongside Hoa Phat Group, Formosa is the first steel mill in Vietnam to produce HRC, a primary steel product in the steel industry.
In 2022, Formosa's steel output will reach about 5.8 million tons, thereby contributing to increasing the business' revenue to over 4 billion USD. In terms of product supply, Formosa Ha Tinh Steel combines new equipment with the advanced technology of its partners while constantly improving production technology, optimizing operation management, striving to achieve high quality and low cost and improving the index between the quality and price of the products provided to avoid falling into the situation of unfair, cheap competition.
Established in 1998, VAS is among the few companies that own a complete ecosystem of steel mills and seaports, with an annual total capacity of 4.35 million tons of square billets and 2.5 million tons of construction steel. The international port services system and logistics not only optimize operational costs for the corporation but also facilitate the import and export of goods. The establishment of Nghi Son International Seaport in Thanh Hoa has provided a competitive advantage in the supply chain, enabling the company to meet requirements for production volume, quality and delivery schedules.
Currently, VAS's steel mills own the world's leading modern production lines from Danieli, Italy, one of the leading corporations in steel billet and rolling production, along with advanced scientific production processes. Advanced and strict according to European standards. Therefore, VAS steel products are highly appreciated for their brand and quality thanks to meeting strict standards around the world, such as Japan's JIS standards and America's ASTM standards.
Hoa Sen Group
Hoa Sen Group was established on August 8, 2001 specializing in the fields of: Hoa Sen Steel Sheet, Galvanized Thick Steel, Hoa Sen Zinc Pipe, Hoa Sen Plastic Pipe. High quality products of Ton Hoa Sen are widely accepted and used both domestically and internationally because of their reasonable prices, meeting a variety of needs.
According to a report of the Vietnam Steel Association in 2016, Hoa Sen Group accounted for 33.1% of the corrugated iron market share and 20.3% of the steel pipe market share, leading enterprises in the production and trading of corrugated iron and steel in Vietnam. Currently, Ton Hoa Sen is still growing rapidly with 11 large factories, a system of 300 distribution and retail branches present in over 70 countries and territories around the world.
Ton Dong A Corporation
Established on November 5, 1998, under the name Dong A Co., Ltd. In 2009, the company converted from a limited liability company to a joint stock company to match the development of the current economy. This enterprise specializes in producing cold corrugated iron, zinc-coated steel, cold corrugated iron and color-coated iron, serving the construction and civil industries.
After more than 20 years of establishment and development, Ton Dong A Joint Stock Company has always been committed to partners, customers, and consumers about product quality, service quality and competitive prices to meet the needs of customers. To increase investment in technology lines to improve product quality and increase product diversity and richness. Thereby affirming its position in the market and expanding export markets in Southeast Asia towards the further market.
Nam Kim Group
Nam Kim Steel Joint Stock Company was established on December 23, 2002. As a leading enterprise specializing in producing galvanized steel sheets in Vietnam, Nam Kim Steel is always a pioneer in investing in technology to provide products that meet the highest quality standards.
Currently, galvanized steel products are the main product line of Nam Kim Steel. In addition, the company also promotes the production of steel pipes. The company always focuses on and invests all of its resources in manufacturing steel and improving the capacity of factories. After more than 20 years since its establishment and development, Nam Kim brand has gradually marked a remarkable transformation to become the 2nd leading brand in terms of market share of coated steel sheets in Vietnam.
In 2022, Nam Kim Steel recorded revenue of 23,071.25 billion VND, down 18.1% compared to the previous year, and a negative profit after tax of 124.68 billion VND over the same period. Of which the gross profit margin decreased from 15.2% to 6.4%. In 2023, Nam Kim Steel sets a business plan with a total revenue of 20,000 billion VND, an increase of 13.5% compared to 2022 results, and an expected pre-tax profit of 400 billion VND.
Southern Steel Sheet Co., Ltd
Established in 1995, the SSSC steel mill is a joint venture between Vietnam Steel Corporation (VSC) and Sumitomo Corporation (Japan) along with FIW STEEL SDN. BHD (Malaysia). Over nearly 30 years of development, SSSC has expanded significantly, gaining a reputable position in the production of roofing and construction materials. SSSC currently provides high-quality products in diverse sizes and types, catering to civil, industrial and various construction projects across Vietnam. The company's products meet stringent quality and safety standards, manufactured through rigorous quality control processes.
With a commitment to quality and service, the SSSC steel mill has established its position in the manufacturing and supply industry of roofing materials. It's recognized as one of the reliable partners for contractors, businesses and individuals in the construction sector.
TVP Steel Joint Stock Company
TVP Steel Joint Stock Company stands as one of the leading steel mills in Vietnam, specializing in high-quality galvanized, color-coated roofing sheets, steel plates, steel pipes and more. TVP consistently leads in technological advancements in the market by continuously investing in cutting-edge machinery and equipment from renowned conglomerates like Tenova and Danieli. Currently, TVP's products are available in various countries and territories worldwide.
For several years running, TVP steel mill has consistently affirmed its leading technological position and continuously invested to expand its market share in the steel production industry. With steadfast investments, TVP Steel is confident in reaching greater heights and becoming one of the leading steel manufacturing enterprises with top-notch technology in Southeast Asia.
SMC Manufacturing Co., Ltd
Starting off as Building Materials Store No. 15, SMC swiftly expanded to become an investment and trading joint stock company. With over 35 years of establishment and growth, SMC steel mill commits to upholding a reputable and professional role in steel distribution, processing operations and manufacturing. By continuously refining and innovating in quality and service, SMC consistently improves to meet the diverse demands of customers and the market.
SMC has imported state-of-the-art production lines with large capacities based on European technology, ensuring regular maintenance for efficient operations. All operations are conducted using automated control technology, with drives operating according to variable-frequency technology. This not only optimizes energy consumption but also ensures efficient production and the best product quality for customers.
Tay Nam Steel
Established between 2016 and 2022, Tay Nam Steel completely separated from Vina One to become an independent company. Tay Nam is recognized as one of the most reputable steel mills in the southern region.
With the aim of supplying and promoting high-quality Vietnamese steel to the international market, Tay Nam Steel has continuously researched and focused on producing key products, including galvanized steel, cold-rolled steel, steel pipes, and various other construction materials. The Tay Nam steel mill has also prioritized investments in advanced, modern technologies, employing a team of highly skilled experts with rich experience. All of Tay Nam's steel products meet international standards while maintaining reasonable prices and ensuring top-quality service.
Currently, Tay Nam's products are available in over 47 countries and territories worldwide. They are expanding their export market to promising regions like the Middle East, South Asia, the United States, Europe, and other potential markets.