Steel News

According to data from the General Department of Customs, iron and steel exports of all kinds in December 2023 increased sharply, reaching more than 1.08 million tons with a value of 707 million USD, an increase of 18.12% in volume and 13.81% in value compared to November 2023; increase 34.4% in volume and 27.7% in value compared to the same period in 2022.According to the Vietnam Steel Association (VSA), in December, construction steel and high-quality steel of all types recorded the highest consumption in the past 20 months. Exports of iron and steel of all kinds in December 2023 also increased sharply, reaching more than 1.08 million tons with a value of 707 million USD. For the whole year 2023, iron and steel exports of all kinds reached nearly 11.13 million tons with a value of 8.35 billion USD, +32.6% in volume and +4.5% in value compared to 2022.In December 2023, the top 10 largest import markets for Vietnamese flat steel were the United States accounting for 14.95%, Italy at 12.4%, Cambodia at 8.7%, Mexico at 7.8%, Malaysia at 6.3%, Indonesia at 5.2%, Colakoglu at 5%, Belgium at 4.9%, India at 4.9% and Spain at 4.1%.Conversely, Vietnam's imports of iron and steel in December 2023 reached 1.17 million tons with a value of 741 million USD, -22.1% in volume and -18.3% in value compared to the previous month; +22.7% in volume and +6.7% in value over the same period in 2022. For the whole year 2023, imports of iron and steel of all kinds will reach 13.3 million tons with a value of 10.43 billion USD, +14.1% in volume but -12.6% in value compared to 2022. One of the businesses with the most positive business results in December 2023 was Hoa Phat Group. HPG produced 648,000 tons of crude steel, an increase of 4% compared to November 2023. The consumption of hot rolled steel coils, construction steel and steel billets reached 760,000 tons, an increase of 7% compared to November and the highest in 2023. For export markets, Hoa Phat exported 113,000 tons of construction steel and high-quality steel to make wire rods and welding rod cores. Main export markets were Canada, Korea, Japan, Singapore, Australia, Sri Lanka,...In addition to high-quality steel, Hoa Phat also exported 103,000 tons of HRC in December 2023. HPG is the group with the largest crude steel capacity in Vietnam and Southeast Asia with 8.5 million tons/year, leading in construction steel market share and among the top 5 largest Vietnamese galvanized steel manufacturers.Entering 2024, Vietnam's steel industry is also recording many positive signs of recovery as both production and consumption show signs of strong growth. For the export market, recovering demand in the EU and US has a positive impact on export output and price of galvanized steel. Export steel prices are expected to increase by 9% in 2024.MRS Steel is a provider of quality, convenient and time-saving Vietnamese steel import solutions. Our team of market analysis, marketing and supply experts provide the latest market and price reports to help importers clearly understand Vietnamese steel industry. If you have any questions or need to import Vietnamese steel, please contact MRS Steel via Email: vanloc@mrssteel.com.vn or Hotline: +842836223358 for the most thoughtful support!

Hoa Phat Group, one of the leading steel manufacturing conglomerates in Vietnam, has achieved a significant milestone in their development in both domestic and international markets. Steel export volume has surged, and Hoa Phat has reached its highest sales level in the company's history.Export volumes have increased significantlyIn the context of the volatile and fiercely competitive global steel market, Hoa Phat Group has continuously ramped up its steel export volumes. In recent months, the conglomerate has witnessed impressive growth in exporting steel products to numerous markets worldwide. These efforts have been demonstrated through a substantial increase in export volumes, contributing to the group's revenue and profitability.In particular, for construction steel and high-quality steel products, Hoa Phat Group has supplied 339,000 tons to the market, with export volumes contributing 110,000 tons, marking a 23% increase. This is also the first time in many months that Hoa Phat has received export orders for steel billets in the international market.Hoa Phat Group has achieved its highest sales level in historyThe increase in export volumes has helped Hoa Phat Group achieve its highest sales level in history after several months of stagnation in the steel market. Hoa Phat's efforts in expanding export markets and enhancing product quality have been highly regarded by the international market. This has propelled the conglomerate to reach a record sales level, creating potential development opportunities for the future.Specifically, the sales volume of hot-rolled coil, construction steel, and steel billets reached 635,000 tons, a 7% increase compared to September and the highest level in nearly 1.5 years. Among these, Hoa Phat Group hot-rolled coil accounted for over 273,000 tons, marking a 17% increase compared to the previous month. Additionally, downstream products of hot-rolled coil in October, such as steel pipes and galvanized steel, also increased by 11% and 25% respectively compared to the previous month, reaching 54,000 tons and 26,000 tons, respectively.During the past 10 months, Hoa Phat Group has produced 5.43 million tons of crude steel, a decrease of 18% compared to the same period in 2022. Sales of hot-rolled coil, construction steel, high-quality steel and steel billets reached 5.25 million tons, a 15% decrease compared to the same period. Although the production and business results have declined compared to the previous year, this is a common trend in the steel industry. Hoa Phat Group has shown positive signs of transformation after announcing its business results for the first three quarters of 2023.The increase in export volumes and Hoa Phat Group record sales level is evidence of the conglomerate's commitment to improving product quality and expanding its export market. This is also a shining example of how a steel manufacturing company in Vietnam can achieve success in the fiercely competitive international market.MRS Steel - A Potential Export PartnerMRS Steel is one of the leading potential steel export partners in the Vietnamese market. With a strong reputation and extensive experience in the steel industry, MRS Steel has earned the trust of many international partners and has become a leader in supplying high-quality steel products from Hoa Phat Group to markets worldwide.With a commitment to quality and excellent service, MRS Steel ensures that products reach customers safely and in the most precise condition. Thanks to their flexibility in the supply process, MRS Steel has the capability to provide all steel products from Hoa Phat Group and other steel manufacturers in Vietnam. With outstanding customer service and professional advisory capabilities, MRS Steel is a reliable partner for any company or organization with steel industry needs.