Steel News

To achieve ResponsibleSteel™  certification, mills must meet strict ESG criteria designed specifically for the steel industry. This is a proud title for the sustainable steel production journey. BlueScope is the first steel mill in Vietnam and Southeast Asia to achieve ResponsibleSteel™ certification.NS BlueScope becomes first in Vietnam, Southeast Asia with ResponsibleSteel™ certificationThe first steel mill in Vietnam and Southeast Asia to achieve ResponsibleSteel™ certificationNS BlueScope is the first mill in Vietnam and Southeast Asia to achieve ResponsibleSteel™  certification. This is also the third factory globally of BlueScope Group to receive this prestigious certification.ResponsibleSteel™  is an international standard for sustainable development specifically for the steel industry. Mills are evaluated based on 13 "Responsible Steel" principles including environmental, social and governance (ESG) standards. The certification demonstrates BlueScope's commitment to sustainable development in Vietnam.Previously, in 20222, BlueScope was also the first and only galvanized steel supplier in Vietnam to be granted a "Green Label" certificate by the Singapore Green Building Council (SGBC) for its key products.NS BlueScope pioneers sustainable steel production in Vietnam and Southeast AsiaAchieving ResponsibleSteelTM certification not only helps the company build a specific development roadmap in sustainable steel production but is also an inspiration for businesses striving to build a strong Vietnamese steel community.Green steel or sustainable production is an emerging trend in developed markets such as the United States, Europe,... To meet sustainable production criteria, businesses are required to comply with higher standards.Not an exception to that trend, since 2015, Vietnamese steel enterprises have continuously researched and improved technology to lead the steel industry to implement green transformation, complying with the commitments of the COP26 Climate Change Summit. The Vietnamese steel industry has developed and become one of the leading manufacturers in ASEAN in terms of production and consumption of finished steel products, ranking 12th in the world in crude steel production by 2023.ResponsibleSteelTM certification inspires Vietnam's steel industry towards sustainability, aligning with global green trendsGeneral introduction about NS BlueScope VietnamNS BlueScope is one of the largest steel sheet manufacturers in Vietnam, part of the Australian NS BlueScope Group. NS BlueScope joined Vietnam's steel industry in 1993, specializing in galvanized steel products such as cold-plated steel, heat-insulating steel, foam steel,... Inheriting experience and production technology from NS BlueScope Australia group, NS BlueScope Vietnam's products are of high quality and exported to many fastidious markets around the world. In recent years, BlueScope has been the only galvanized steel manufacturer in Vietnam to possess Activate™ four-layer matrix plating technology - an AM standard that helps protect base steel against all harsh environmental conditions, increasing the lifespan of constructions and enhancing investment efficiency.The above article by MRS Steel shared some interesting information surrounding ResponsibleSteel™ certification as well as NS BlueScope Vietnam mill. Don't forget to follow MRS Steel to read more useful news about the Vietnamese and global steel markets.

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.

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.