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Recently, the Trade Remedies Authority (Ministry of Industry and Trade) and the European Commission issued a notice initiating an anti-dumping investigation into certain types of hot-rolled coil originating from Egypt, India, Japan, and Vietnam imported into the EU. This is part of the European Union's effort to protect its domestic industry from unfair competition from other countries.Hot-rolled coil (HRC) steel from Vietnam is facing anti-dumping measures by the EUThe decision to initiate the investigation was made based on the request received by the European Commission from the European Steel Association on June 24, 2024, concerning hot-rolled coil products. The products under investigation are classified under the following HS codes: 72081000, 72082500, 72082600, 72082700, 72083600, 72083700, 72083800, 72083900, 72084000, 72085210, 72085299, 72085310, 72085390, 72085400, 72111300, 72111400, 72111900, ex 72251910, 72253090, ex 72254060, 72254090, ex 72261910, 72269191, and 72269199.The anti-dumping investigation period covers from April 1, 2023, to March 31, 2024, while the damage investigation period spans from January 1, 2021, to March 31, 2024. The Trade Remedies Authority also noted that the European Commission’s initiation notice includes comprehensive information about the involved parties. The notice details the investigation procedures, relevant deadlines, the rights and obligations of the parties, and provides guidance on how to upload and submit documents through the EC's electronic system, TRON.HRC is one of the important products of the steel industryThis investigation reflects the EU's increasing concern for maintaining fairness in international trade and protecting its regional industry from potential harm caused by unfair competitive practices.In addition to facing anti-dumping duties in the EU, domestic hot-rolled coil products in Vietnam are also competing with low-priced steel imports from abroad. Previously, in July 2024, the Ministry of Industry and Trade issued a decision to initiate an anti-dumping investigation into hot-rolled coil imported from China and India, after observing that such practices were harming local businesses.Currently, the two companies in Vietnam exporting hot-rolled coil are Hoa Phat Group and Formosa Ha Tinh. These are the only two companies in Vietnam that produce and export HRC. According to data from Customs and the Steel Association’s report, in 2023, the combined sales volume of HRC from Hoa Phat and Formosa Ha Tinh reached 6,808,337 tons, with 3,405,633 tons exported, accounting for nearly 50% of Vietnam's total HRC sales. Notably, in the first half of 2024, the sales volume of these two companies reached 3,312,675 tons, with 1,181,649 tons exported, representing almost 40% of their total sales in the first half of 2024.Formosa and Hoa Phat are the two companies exporting hot-rolled coil steel from VietnamFacing the wave of trade protectionism, affected manufacturing and exporting companies, in collaboration with the Vietnam Steel Association (VSA), need to thoroughly review all relevant information and documents. They must fully cooperate with the European Commission (EC) to provide the required information and documentation in the prescribed format and within the deadlines. Regular coordination and information sharing are essential to receive timely support from the Trade Remedies Authority.In the article above, MRS Steel has provided you with information about the situation. Stay tuned to MRS Steel for the latest updates and insights on the global steel industry.

In the first 5 months of 2024, Hoa Phat steel sheet continues to affirm its position in the top 5 domestic steel sheet consumption market share, while promoting export activities. Export output nearly doubled over the same period last year, focusing on European and American markets, making a major contribution to Vietnam's total export production output.In 2023, Hoa Phat's coated steel sales output reached 329,000 tons, of which domestic output was 190,000 tons and export output was 139,000 tons, up 24% and 42% respectively over the same period last year. Exports, including galvanized steel coils, cold galvanized steel sheets and color-coated steel sheets, currently account for 60-70% of Hoa Phat's total color steel sheet production output.Hoa Phat excels in steel, doubling exports to Europe and America in 2024The entire production line is operating effectively, meeting domestic demand and strict technical standards of foreign partners, especially product surface requirements. With diverse and high-quality product lines such as color-coated steel sheets, premium steel sheets, galvanized steel sheets, panel sheets, anti-finger coated white cold-rolled sheets,... Hoa Phat has affirmed its position in the market, fully meeting customer needs.Hoa Phat Steel Sheet Company has been inspected and confirmed its Greenhouse Gas Inventory Report by BSI - the UK's leading international certification organization - according to ISO 14064-1:2018 standards. At the same time, the company was also certified for Carbon Footprint Report on Products according to ISO 14067:2018, creating a premise to meet requirements for exporting goods to fastidious markets such as Europe.Hoa Phat leads with eco-certified steel, ready for the fastidious global marketsHoa Phat is equipped with modern technology lines, imported from G7 countries. Hoa Phat is the only steel plant in Vietnam that owns a closed production chain from iron ore raw materials to final products such as galvanized steel, cold galvanized and painted sheets. This helps Hoa Phat control and ensure stable product quality from input to output. The product quality of Hoa Phat steel sheet, especially in terms of mechanical properties and surface, is highly rated and has become the top choice for many domestic and international customers.Over the years, the company has continuously received large orders from major trading partners and customers from Europe and America. Hoa Phat's galvanized steel products are trusted and used in many housing and factory construction projects in North America, Western Europe and the UK.Hoa Phat's high-quality steel is a top choice globally, from Europe to AmericaHoa Phat is also the first and only corrugated iron manufacturing mill in Vietnam to be self-sufficient in HRC raw materials. This advantage helps the product ensure stable quality at competitive prices. With 100% Vietnamese product origin, Hoa Phat easily achieves tax incentives and anti-dumping in countries with strict origin requirements.MRS Steel is one of Hoa Phat's biggest strategic partners, with a relationship spanning over 10 years, taking Vietnamese steel products to the global stage. At MRS Steel, importers can access Hoa Phat’ s high-quality products at the most favorable prices through our new customer policies. Contact MRS Steel now via Whatsapp: +84 769 112 358 or Email: vanloc@mrssteel.com.vn for the best support.

Hoa Phat is one of 70 Vietnamese enterprises included in the 2024 Fortune Southeast Asia 500 list.On June 18, Fortune magazine announced the ranking of the 500 largest enterprises in Southeast Asia in 2024 based on revenues for the fiscal year 2023. Hoa Phat Group excelled at the 76th position on the list, making it one of 13 Vietnamese companies in the Top 100. This is the first time such a ranking has been conducted to honor companies with impressive growth in the region.Hoa Phat Group is 76th among Southeast Asia’s top enterprises in 2024Hoa Phat is in the top 100 largest companies in Southeast AsiaThis ranking includes 500 companies from 7 countries: Indonesia, Thailand, Malaysia, Singapore, Vietnam, Philippines and Cambodia, reviewing over 57 fields including aviation, textiles, chemicals,... Hoa Phat Group ranked 76th, leading among 5 other Vietnamese steel enterprises also on the list, including Hoa Sen Group, Vietnam Steel Corporation, Nam Kim and Ton Dong A.According to Fortune, Hoa Phat's revenue in 2023 reached 4.99 billion USD, with a profit after tax of 287 million USD. In 2023, Hoa Phat recorded 120,355 billion VND in revenue and 6,800 billion VND in profit, of which the steel segment (including iron and steel and steel products) accounts for 94% of revenue and 92% of profit after tax. Notably, Hoa Phat is also in the top 60 countries with the largest crude steel production in the world, with 6.7 million tons. Hoa Phat contributed over VND 9,000 billion to the government budget and was voted Top 1 largest private enterprise and ranked 8th in the Top 10 largest enterprises in Vietnam in 2023. Hoa Phat continues to maintain its leading position in the Vietnamese steel market, achieving VND 31,000 billion in revenue and VND 2,869 billion in post-tax profit in the first quarter of 2024.Hoa Phat leads in Vietnamese steel industry, making major global and local impacts in 2023Hoa Phat holds the No. 1 position in Vietnamese steel industryWith a crude steel capacity of 8.5 million tons/year, Hoa Phat is currently the largest steel producer in Vietnam and Southeast Asia. In 2023, sales volume of HRC steel products was 2.8 million tons, construction steel and high quality steel recorded 3.78 million tons, an increase of 6% compared to 2022. Hoa Phat also holds the No. 1 market share in construction steel and steel pipes, with 34.7% and 28.27% respectively. Coated steel products are also among the top 5 market shares in Vietnam.In the export market, Hoa Phat has exported many steel products to 30 countries and territories across 5 continents. Hoa Phat has invested in the most modern production lines, providing a series of high quality steel grades such as 30MnSi, SWRH82B, SWRH62A, SWRH72A, SWRH82A, SWRH82ACr, DBIC B500B, SWRY11, ER70S-6... Currently, Hoa Phat is the only Vietnamese enterprise that can produce hot rolled coil steel (HRC) and DBIC B500B steel. In mid-2023, Hoa Phat's HRC received CE Marking certification - fully qualified to export to Europe.Hoa Phat dominates with top market shares and global reach in steel productionOver the years, HPG has continuously received many large orders from trading partners and customers at fastidious markets such as Europe and America. A number of large customers, who originally purchased specialized products requiring high quality from the US, have now trusted Hoa Phat as a reputable supplier, replacing domestic sources. MRS Steel is Hoa Phat's strategic partner in exporting Vietnamese steel, providing consulting support and resolving purchasing barriers for importers. If you are interested in learning more about Hoa Phat steel production capacity and products, please contact MRS Steel via Email: vanloc@mrssteel.com.vn or Whatsapp: +84 769 112 358.Compliance with strict quality control procedures and origin principles has enhanced the quality and position of Hoa Phat’s products in both domestic and international markets. With the title Fortune Southeast Asia 100, Hoa Phat will continue to build trust with customers.

On June 6, 2024, Hoa Phat Group officially announced the milestone of 10 million tons of hot-rolled coil after more than 4 years since the first hot-rolled coil was born in May 2020.In the article below, we will learn more about this incident with MRS Steel.Hoa Phat's hot-rolled coil output reached 10 million tonsHoa Phat - The first Vietnamese enterprise to produce hot-rolled coilHot-rolled coil is an important industrial steel product, the foundation and input material for many other high-tech manufacturing industries such as automobile manufacturing, shipbuilding, the mechanical engineering industry, household appliances, steel structures, galvanized steel coils, steel pipes, container shells,... Currently, Hoa Phat Group is the only Vietnamese enterprise that can produce hot-rolled coils. In May 2020, the first hot-rolled coil was born at Hoa Phat Dung Quat Steel Joint Stock Company. In August 2022, Hoa Phat Group reached the milestone of 5 million tons of hot-rolled coil and raised it to 10 million tons of hot-rolled coil on June 6, 2024. The output of 10 million tons is a milestone, marking the efforts of Hoa Phat Group staff after 4 years of operation. Currently, Hoa Phat's engineers have completely mastered production technology, creating many different product lines and serving domestic and foreign market needs.With the position of the largest steel manufacturer in Southeast Asia, in recent years Hoa Phat has continuously improved its production lines. With the investment in hot-rolled coil production on a continuous smelting, casting, and rolling line provided by Danieli Group (Italy). In addition, Hoa Phat Group will also operate roll-forming machine No. 3 from November 2022, increasing roll-forming capacity and ensuring redundancy for continuous production. In January 2023, installation and trial run of the F5 rolling rack will be completed, allowing hot-rolled coil thinning from 1.5 to 1.2 mm. Installing a rolling rack has improved product geometry and increased productivity and efficiency when rolling products compared to before.Hoa Phat's hot-rolled coil products are diverse in types such as low carbon steel grades (SAE1006, SAE1008, S235JR, SPHC, SPHD, BJPC, SPHT1), medium carbon steel grades (SS400, S275, S355, SAE1017, SS36, ASTM A36), and the SPAH mark. Hoa Phat Dung Quat Steel Joint Stock Company also provides wide products from 900 to 1524 mm according to the needs of domestic and foreign customers. Production capacity and increasingly diverse product range show that Hoa Phat Group has mastered the hot-rolled coil production line, affirming its position as the largest steel manufacturer in Southeast Asia.Some milestones of Hoa Phat's HRC productHot rolled coil - The future of Vietnam's steel industryCurrently, Hoa Phat's total hot-rolled coil production capacity reaches 3 million tons/year. Currently, Hoa Phat is also implementing the Hoa Phat Dung Quat 2 project with a capacity of 5.6 million tons of high-quality hot-rolled coil/year, thereby increasing Hoa Phat's total hot-rolled coil output to nearly 9 million tons/year. The Hoa Phat Dung Quoc 2 project is expected to come into operation at the end of 2024 and will focus on developing high-quality hot-rolled coil products.Currently, the demand for hot-rolled coil in Vietnam is estimated at 10 - 13 million tons/year, but the maximum domestic hot-rolled coil output is about 8 million tons. With Hoa Phat's construction of the Hoa Phat Dung Quoc 2 project, Vietnam's hot-rolled coil output has increased, limiting dependence on imported steel supply and meeting domestic demand.Thank you for reading, follow MRS Steel to update the latest information about the Vietnamese and world steel industry. If you need to import Hoa Phat hot-rolled steel coils, please contact us here or hotline +84 76 911 2358.

Associated with the development of the business, recently, Mr. Tran Dinh Long, Chairman of the Board of Directors of Hoa Phat Group, decided to invest in three new projects in the Nam Phu Yen Economic Zone with a project scale of over 120,000 billion dong.Currently, Hoa Phat Group is the largest steel manufacturer in Southeast Asia, with more than 30 years of experience. After a period of learning, researching and discussing with the leaders of Phu Yen province, Hoa Phat Group decided to sign a memorandum of understanding to invest in three projects in the South Phu Yen Economic Zone. Projects include: the original beach port; investing in construction and trading in the infrastructure of Hoa Tam Industrial Park; and the Hoa Phat Iron and Steel Complex Project in Hoa Tam Industrial Park. The total expected investment capital is over 120,000 billion VND.Currently, Hoa Phat's production capacity is 8.5 million tons per year. Of which, high-quality steel billets and construction steel are 5.5 million tons and hot-rolled steel coils are 3 million tons per year. Hoa Phat Group is currently leading in Vietnam in terms of market share of construction steel, steel pipes and the top 5 largest coated steel sheet manufacturers. It is also the only Vietnamese enterprise that can produce HRC steel, prestressed steel cables and many other high-quality steel products.Along with that, Hoa Phat Group is also implementing the Hoa Phat Dung Quat 2 Iron and Steel Production Complex project in Quang Ngai, with a design capacity of 5.6 million tons of hot-rolled steel per year. It is expected that when the project is completed in 2025, Hoa Phat's annual crude steel production capacity will reach over 14 million tons, equivalent to the top 30 largest steel enterprises in the world.Regarding the business situation, in 2023, Hoa Phat Group will reach VND 120,355 billion in revenue, down 16% over the same period last year. Profit after tax is 6,800 billion VND, completing 85% of the year plan. Hoa Phat leaders said that in 2023, it will produce 6.7 million tons of crude steel, down 10% compared to 2022. Sales output of HRC steel products, construction steel, high-quality steel and steel billets reached 6.72 million tons, down 7%. In addition to traditional steel product lines, Hoa Phat Group has invested in deep processing, promoting the production of high-quality steel to serve domestic and export needs. The Hoa Phat steel export market has expanded to 39 countries and territories worldwide.Exporting helps Hoa Phat Group diversify consumer markets while contributing to foreign exchange earnings and balancing Vietnam's trade balance. Hoa Phat is still leading the market share in Vietnam in construction steel and steel pipes and is the only Vietnamese enterprise that can produce HRC steel, prestressed steel cables and many types of high-quality steel.With Hoa Phat Group investing in an additional factory in Phu Yen, it will increase the group's output, helping Hoa Phat firmly hold its position as the leading steel manufacturer in Southeast Asia. Besides, it also helps increase the position of Vietnam's steel industry in the world steel market.

Currently, Hoa Phat owns 7 blast furnaces for steelmaking, including 4 furnaces in Dung Quat and 3 furnaces in Hai Duong. With a crude steel production capacity of 8.5 million tons per year, Hoa Phat is currently the leading steel production enterprise in Vietnam.According to information from Hoa Phat Group (HPG), in the fourth quarter of 2023, the group recorded consolidated revenue of VND 34,925 billion, an increase of 33% over the same period. Profit after tax recorded 2,969 billion VND, up 48% over the previous quarter and up 249% over the same period.Specifically, Hoa Phat supplied more than 2.1 million tons of crude steel to the market in the fourth quarter, an increase of 30% compared to the previous quarter. The consumption of construction steel products alone during this period reached 1.2 million tons and HRC reached 813,000 tons.Currently, the optimism of the steel market in the fourth quarter of 2023 has been reflected in Hoa Phat's inventory structure, where the proportion of finished products in inventory decreased to the lowest level since the second quarter of 2022. With consumption output gradually improving, both the value and proportion of raw materials in inventory have increased compared to previous quarters. However, this business said that raw material turnover has not returned to the level of around 3 months like in 2021 but continues to tighten at 2 months (62 days).Hoa Phat's leadership said that although the total steel consumption in 2023 is lower than the previous year, in terms of trend, the group's steel business picture has gradually brightened as output tends to grow over the past year, reaching its best level in the fourth quarter of 2023, recorded in both domestic and export markets. For the construction steel market, according to Hoa Phat, optimistic signals come from policies to remove difficulties and promote public investment, especially in the field of transport infrastructure. Regarding export markets, this business has continued to diversify its consumer markets by expanding to 39 countries and territories worldwide. Export output will continue to increase in 2024.Previously, in October 2023, Hoa Phat stopped operating a blast furnace at Hai Duong Iron and Steel Complex for maintenance and preparation for new production batches in 2024. Recently, Hoa Phat said that since all blast furnaces at all complexes in Dung Quat and Hai Duong have been re-operated, the raw materials needed to prepare for production have therefore also increased accordingly. Currently, Hoa Phat Hai Duong Iron and Steel Complex has 3 furnaces with a total capacity of 2.5 million tons and 4 furnaces at Hoa Phat Dung Quat with a capacity of 5.6 million tons per year.