Steel News

In the past, Vietnam imported all hot rolled coil from foreign countries. However, with large investment, enterprises in Vietnam have become self-sufficient in hot rolled coil steel production capacity to meet market demand.Assessment of Vietnam's HRC steel production capacityVietnam's steel production capacity has increased sharply since the 2010s. With a long-term vision and strategy, the assessment of the world and domestic market demand for hot rolled coil products is very high compared to before, especially as China is putting pressure on global hot rolled coil supply. Many Vietnamese enterprises have decided to invest in hot rolled coil production and make this product a major export in the future.Hot rolled coil is one of the steel products that Vietnam has not been able to produce before. The proactive production of hot rolled coil also helps Vietnam become more self-reliant in its steel production capacity. Actively source input materials for the production of steel pipes, galvanized corrugated iron, container casings, shaped steel, and industrial steel, providing high-quality products at competitive prices for other mechanical factories in Vietnam. Currently, in the Vietnamese market, only 2 enterprises, Formosa Ha Tinh Steel Corporation and Hoa Phat Group, can produce this product. This is the pride and a product that demonstrates the maturity of Vietnam's steel industry.Formosa - Vietnam’s leading HRC steel production capacity Formosa Ha Tinh Steel Corporation is one of the factories with large steel production capacities in Vietnam. Formosa is the largest closed iron and steel complex in Southeast Asia today. The first smelter began to be commissioned to produce billets in May 2017. Formosa Ha Tinh Corporation is a pioneer in hot rolled coil manufacturing in Vietnam. December 25, 2015 Formosa Ha Tinh Corporation has launched a hot rolled coil product; this is the first time hot rolled coil is produced in the Vietnam market.Currently, Formosa's hot rolled coil steel production capacity still leads the market, but it has lost its unique position when it has to share market share with Hoa Phat. Formosa's main market is still the South, with more than 60% of the consumption in this market. Formosa is known as a private enterprise that builds facilities, machinery systems, and lines to produce steel from iron ore with high quality and on a large scale to meet domestic and export steel demand. Currently, with 2 furnaces, Formosa has raised its total steel production capacity to about 7 million tons per year.Hoa Phat - The leading HRC steel production capacity in VietnamHoa Phat is one of the enterprises with the largest steel production capacity in Vietnam. Besides Formosa, Hoa Phat is the only domestic enterprise that can produce hot rolled steel coils. At Hoa Phat Dung Quat Iron and Steel Production Complex (the Complex), hot rolled coil is the most important highlight. In January 2021, after 4 blast furnaces came into operation, hot rolled coil became a strategic product for Hoa Phat's new development cycle. May 2, 2020, Hoa Phat launched the first batch of hot rolled coils, this is an important event marking the outstanding steel production capacity of Hoa Phat Group. 8/2022, after nearly 3 years of operation, the 5 millionth tonne of hot rolled coil has been produced at Hoa Phat Iron and Steel Complex, thereby affirming the No. 1 position of Southeast Asian steel manufacturers.Hoa Phat's investment in the production of hot rolled coil contributes to helping domestic enterprises to be self-sufficient in raw materials and increase steel production capacity. Hoa Phat will implement the Hoa Phat Dung Quat 2 Iron and Steel Complex project with a capacity of 5.6 million tons of hot rolled coil/year, bringing the total annual hot rolled coil capacity to 8.6 million tons from 2025.Hot rolled coil production output is increasing with stable quality according to JIS G3101-2017 (Japan) and SAE: J403-14 (USA) standards. Besides satisfying domestic partners and customers, Hoa Phat's hot rolled coil has been exported to markets such as the US, Mexico, EU, Malaysia.... In 2022, Hoa Phat's hot rolled coil sales volume will reach more than 2.6 million tons, bringing Hoa Phat's total steel production capacity to 8.5 million tons of steel/year.

The European Union (EU) has imposed anti-dumping duty on electrolytic chromium-coated steel products originating from China to prevent these products from flooding the difficult European steel market. EU anti dumping investigations on steel products from ChinaIt is the largest producer of steel, accounting for half of world production. China has long been accused, economically, of flooding the world with cheap steel. The dumping of steel products in the EU helps China create a competitive advantage in this market while addressing excess supply in the domestic market.The issue of Chinese steel dumping has existed for a long time and has become a hot spot amid widespread global trade protectionism. There has been an investigation that lasted from January 2020 to December 2020, indicating that China's electrolytic chromium-coated steel products have been dumped on the EU market and have harmed the EU industry.According to the European Commission, after imposing anti-dumping duty on electrolytic chromium-coated steel products from China, these tariffs will help protect more than 1,000 employees in the steel industry.The EU has imposed anti-dumping duties on China.Through the investigation, some Chinese electrolytic chromium-coated steel products have exhibited dump behavior in the EU market. That causes damage and is the main cause of the threat to the steel industry among domestic enterprises in this alliance.After the investigation process, on May 23, 2022 the European Commission decided to impose anti-dumping duties on a number of steel products originating in China. Steelmakers from China could be hit with duty of up to 77.9%. Specifically, the duty rate applied to each factory is as follows: Baoshan Iron & Steel is subject to a 33.2% duty; Handan Jintai Packaging Material is 53.9%; for GDH Zhongyue, Tinplate Industry, and Shougang Jingtang United Iron & Steel, it will be subject to a 36.7% duty.The measure is part of efforts launched by the EC to combat the flooding of cheap Chinese steel onto the EU market.What are the opportunities for Vietnam when China is hit with anti-dumping duties by the EU?As a country with a thriving steel industry in the region, China's anti-dumping duty by the EU have opened up a lot of opportunities for Vietnam's steel market. Vietnam's steel export volume to the EU has increased rapidly year over year. The growth of steel exports shows that steel producers in Vietnam are increasingly interested in the EU market and have made good use of the opportunities that this market brings.The EVFTA Agreement is a free trade agreement between Vietnam and the 27 EU member countries. Not only is it eliminating more than 99% of customs duty on goods, but it is also opening a way for Vietnamese steel to penetrate deeply into the 27 member markets of the EU, with great potential for development.Currently, the heat of the Russia - Ukraine war has disrupted global steel supplies, leading to shortages and high steel prices. The EU's shortage of supply is a condition for Vietnam's steel producers, such as Hoa Phat, Nam Kim, Ton Dong A, et al., to export more to this market. 

Today, pre - painted galvanized steel coils is popular with customers in many different construction projects, such as houses, factories, warehouses,... Vietnam PPGI imports help importers get quality and money saving. 1. Features of Pre - painted galvanized steel coilsPre-painted galvanized steel coils is galvanized steel coil coated with a layer of high-quality color to create aesthetics as well as meet the needs of consumers. Pre - painted galvanized steel coils is often used in the construction of houses, workshops, the manufacture of household appliances, etc., especially in the construction industry, namely roofing, fencing, and rolling doors. In addition to increasing the aesthetics of the project, pre - painted galvanized steel coils is coated with a layer of paint that increases the protective features of the steel coil, such as sun protection and heat resistance.Pre - painted galvanized steel coils has many types with different main colors such as dark red, gray, moss green, brown, etc. The most popular colors today are mainly dark red and blue.  In Vietnam, the main product distribution in the market is Ton Hoa Sen, Ton Dong A, Nam Kim, Hoa Phat, etc.2. Vietnam PPGI imports: Quality and money savingPre-painted galvanized steel coils is one of the most popular materials used by architects and construction contractors for roofs and partitions. Perhaps because of the outstanding advantages of aesthetics, high durability, etc., this is always the first choice. Let's find out what are the reasons why Vietnam PPGI imports - Quality and money saving.2.1 Quality products Pre-painted galvanized steel coils is produced on modern technological lines. So they have high durability, and their resistance to corrosion and rust is four times greater than that of ordinary galvanized steel coils. Products of pre-painted galvanized steel coils meet many different weather conditions, such as high temperature, low humidity, weather, stormy areas,...The product has a variety of designs to suit many different needs. In terms of aesthetics, the color retention ability of pre-painted galvanized steel coils is extremely good. In addition, the product also has the ability to be shaped to increase the aesthetics of the project and has good impact resistance, so it is used in the fields of electronics and furniture.2.2 Money saving Why is it said that importing pre-painted galvanized steel coils from Vietnam helps save money? Perhaps this is way more efficient than importing from other countries. Vietnam is one of the countries with the fastest steel industry development in the world. With abundant resources and young, skilled workers, steel production in Vietnam is usually cheaper than in other countries, so importing pre-painted galvanized steel coils from Vietnam will help importers. maximum cost savings.3. A reputable supplier of pre - painted galvanized steel coils in VietnamIn Vietnam, there are now many enterprises providing pre-painted galvanized steel coils. However, buying quality products at reasonable prices is not easy, especially for foreign businesses. With many years of experience in the field, we are confident in our ability to provide you with quality pre-painted galvanized steel coil products at a reasonable cost. When you come to MRS Steel, a professional staff is ready to share useful information with you as well as provide customers with galvanized steel coils and lines suitable for your needs.

Countries impose anti-dumping duties to guard businesses' interests and the domestic market against unfair competition from imported goods. India has imposed anti-dumping duties on stainless steel products from China, valid for five years, with the duty rate ranging from 114 USD to 3,081 USD/ton, depending on the manufacturer.1. India: Increase anti-dumping duty on stainless steel imported from ChinaIn September 2022, the Directorate General of Trade Remedies (DGTR) of the Ministry of Commerce recommended the imposition of anti-dumping duties on China's stainless steel after three major Indian steel producers, including Chandan Steel Ltd, Tubacex Prakash India Pvt Ltd, and Welspun Specialty Solutions Ltd complained about dumping and market manipulation by Chinese steel exporters.Stainless steel seamless tubes and pipes are utilized in life, such as transporting liquids and gases or used in fields related to oil and gas, petrochemical, nuclear energy, thermal power, and atomic energy.DGTR decided to impose definitive anti-dumping duties after the investigation, ranging from 114 USD to 3,081 USD/ton depending on the manufacturer and lasting five years unless revoked, superseded, or amended earlier.Domestic steel companies like Venus Pipes and Ratnamani Metals and Tubes will benefit from India's decisive move, but importers must limit the supply of cheap, high-quality steel from abroad.2. India: Canceled the order to impose anti-dumping duties on steel imported from VietnamPreviously, on June 23, 2020, the Indian Ministry of Finance issued Decision 16/2020 - Custom (ADD) on imposing anti-dumping duty with a 5-year validity on some goods imported into India to protect domestic manufacturers from cheap imports.Accordingly, the anti-dumping duty rate is applied to Vietnamese enterprises as follows: Ton Dong A is subject to the duty rate of 23.63 USD/ton, Hoa Sen Group is 46.87 USD/ton, Tay Nam Steel Company 48.96 USD /ton, Nam Kim Steel 81.3 USD/ton and other enterprises 173.1 USD/ton.However, according to the latest report from the Trade Remedies Department of the Ministry of Industry and Trade, the Department has just received information that on February 1, 2022, the Indian Ministry of Finance issued Decision No. ADD) abolished the order to impose anti-dumping duties on zinc-aluminum alloy-coated steel products imported from Vietnam. With the advantage of a 0% anti-dumping duty rate, Vietnam's steel product exports to the Indian market are highly open.In addition, now that India has signed FTA with ASEAN (AIFTA), Vietnam can request CO form AI certification in the AIFTA free trade agreement to help buyers enjoy preferential import special preferential duty rates under the contract.3. India boosts imports of Vietnamese steel 2023 Statistics from the Joint Commission (JPC) of the Indian steel industry show that the amount of steel imported from Vietnam has increased in recent months; the primary cause of import price being much lower than the price of steel inland India.Specifically, the price of imported HRC steel delivered at Mumbai port in February 2023 was 49,000 Rupees/ton, while the price of HRC steel at domestic brands was 59,000-60,000 Rupees/ton.According to S&P Global Market, several steel companies in Mumbai said that the current price of imported HRC steel for delivery in Mumbai tends to increase to 58,500 Rupees/ton but is still lower than the price of 59,500 Rupees/ton that domestic manufacturers offer.Notably, Vietnam became the 5th largest steel exporter to the Indian market with 0.286 million tons, four times higher than in 2021-2022. The main steel products imported from Vietnam are hot rolled coils/strips (0.177 million tons). This is a new item that India has never imported from Vietnam recently. In addition, most of India's current imports of galvanized steel and roofing sheets come from Vietnam.Hopefully, the information about India imposing anti-dumping duty on stainless steel tube imports from China that MRS Steel shared has helped you to update more news about the steel import market. For all inquiries and the latest quotation of steel import from Vietnam to India, please contact MRS Steel via Whatsapp at +84 76 911 2358 for the most attentive support! 

The Vietnam Chamber of Commerce and Industry (VCCI) has submitted a document to the Ministry of Finance, expressing concerns about the impact of the proposed increase in steel export duty on Vietnam's iron and steel sector, particularly the steel billet manufacturing industry.Changes in Vietnam's steel export duty The Vietnam Chamber of Commerce and Industry (VCCI) has sent an official document to the Ministry of Finance to comment on the draft Decree amending and supplementing the Government's preferential import and export tariff. Accordingly, VCCI believes that the proposed increase in steel export duty will harm the steel billet manufacturing industry in particular and Vietnam's iron and steel sector in general.Regarding Vietnam's steel import and export duty, the Ministry of Finance has proposed to change the export tax rate for billet products (groups 72.06 and 72.07) from 0% to 5%. The goal of this adjustment is to contribute to stabilizing the supply for the domestic steel market, stabilizing the market prices, and ensuring the stable development of the steel industry shortly.Accordingly, the export duty is proposed to change based on applying a high level to raw materials and resources to limit the export of unprocessed natural resources. Therefore, the export duty rates for steel groups such as iron ores and steel scrap are regulated respectively at 40% and 15-17%. Particularly for semi-finished products such as billets, Vietnam is applying the export duty rate of 0%.According to the Ministry of Finance, Vietnam's steel industry has had many positive signals with appropriate import and export duty policies. Currently, domestic enterprises are maintaining a stable growth rate, gradually becoming self-sufficient in steel production lines, technology, and capacity, meeting the needs of domestic use and export of steel products in large amounts abroad.According to the Vietnam Steel Association (VSA) 2022, Vietnam's billet production capacity has exported about 8,937 million tons of steel, reaching an export value of 7.99 billion USD. Vietnam's steel export market is mainly distributed in ASEAN (36.22%), EU (18.37%), US (10.57%), South Korea (6.8%), and Hong Kong (4.1%).Steel import duty policy in ChinaAccording to the Ministry of Finance and the tax authority officially announced from 1/5/2021, China stopped the export duty refund policy from 13% to 0% for some steel groups. This decision strongly impacted 64% of China's steel exports, equivalent to 34 million tons, including alloy steel and carbon steel.China's export duty refund policy with group 7210: Non-alloyed coated steel and 7217: Carbon steel wire will cause steel prices in the world to rise. Steel importers worldwide are also facing many difficulties from China's new duty law. They are forced to look for steel-exporting countries with preferential foreign customer policies.Solutions to import steel in the Context of market fluctuationsAccording to the World Steel Association (Worldsteel) and other forecasts, the effects of inflation, high-interest rates, and the adjustment of duty policies of many countries will affect the global steel industry. Learning and connecting more with steel exporting countries in the world helps importers have more opportunities to access better supplies.By taking advantage of domestic raw materials, Vietnamese steel mills help limit pressure due to latency. In addition, the recent benefits of the Government's export duty policy have also contributed to making Vietnam a potential cooperation market for many foreign partners. However, under trade barriers and obstacles in culture, language, and geography, importers still need help finding reputable and quality suppliers.Currently, MRS Steel is one of the units specializing in providing solutions for sourcing and importing various steel products from Vietnam to help customers save time and effort in purchasing. Over 12 years of establishment and development, MRS Steel is proud to bring satisfied experiences to major importers from the EU, USA, Canada, Mexico, Australia, Middle East, Southeast Asia,... MRS Steel has connected with the largest steel factories in Vietnam, such as Hoa Phat, Ton Hoa Sen, POMINA, Ton Dong A, SENDO... can meet all product requirements of customers at the best price.The policies and regulations on the import and export of iron and steel are also constantly changing based on the adjustments and development orientations of the Government. Therefore, to update the complete and latest information, you can contact MRS Steel for the best support.For more information and specific quotation, please get in touch with MRS Steel via:Address: No.41 Street 37, Van Phuc City, Hiep Binh Phuoc Ward, Thu Duc City, Ho Chi Minh City, VietnamWhatsapp: +84 76 911 2358Hotline: +84 28 36 22 33 58Email: vanloc@mrssteel.com.vn 

The uncertain impact of the 2023 global economy on commodity prices, including iron and steel, has implications for the Steel Industry growth in Vietnam. Nevertheless, the industry's "big guys" still attract investors and exporters with unique stories.1. Situation of the global and ASEAN steel industryAccording to estimates by the World Steel Association (Worldsteel), steel demand in 2023 is forecast to reach 1814.7 million tons, up 1% compared to 2022. Other forecasts also reflect the impact of inflation and high-interest rates will affect the global steel industry. Currently, upstream factories are under tremendous pressure from the increase in input material prices, such as ore prices, and the shortage of coking coal with a price twice as much as in 2021. The reason is due to fluctuations in the local supply and demand situation from China, Australia, and Brazil. However, infrastructure demand is expected to increase slightly, contributing to a more positive improvement in steel demand in 2023.In ASEAN countries, although the Covid-19 pandemic has passed for a while, the effects and consequences of the disease still have not fully recovered. However, the good news is that countries such as Malaysia, the Philippines,... have issued policies to promote public investment projects to help the steel industry prosper. Not standing out of the race, Vietnam also focuses on recovering and developing a more stable steel industry.2. Steel industry growth in Vietnam 2023According to the Vietnam Steel Association (VSA), crude steel production nationwide will reach 23 million tons equivalent by 2022. Production of finished steel products will be at 31 million tons, and sales of finished steel products we teach about 27.5 million tons, all down 5% over the same period last year. Vietnam's iron and steel export market still mainly comes from Southeast Asia, accounting for more than 42%.Vietnam's steel market in 2022 experienced more difficulties and fluctuations than in 2021. Many large enterprises, such as Hoa Phat, are forced to pause some production plants to overcome the situation of high-priced inventories. It is expected that 2023 will continue to be a difficult year for the steel industry due to the stagnation and freezing of many projects. The industry's prospects will depend significantly on the policies to promote public investment in projects and the disbursement progress of the state.3. What opportunities for Vietnam's steel industry in 2023?Downstream factories using input materials such as billet, hot-rolled steel, and cold-rolled steel are all under pressure from fluctuations in semi-finished product prices and are at risk of losses. Hot-rolled steel prices have increased sharply in the last two years compared to 2018-2020. This makes it difficult for manufacturing enterprises to purchase and store raw materials proactively.In Vietnam, downstream factories can take advantage of domestically produced materials to alleviate some of the pressure due to latency. This is a preeminent competitive advantage only the domestic steel industry can do, thanks to its autonomy in raw steel supply and main types of semi-finished products.Besides, the International Monetary Fund (IMF) recently predicted that Vietnam's economic growth, although at 6.2%, is still impressive in the context of the global recession and price pressures from the markWorldorld school. Vietnam is a developing country with a strong position in exporting construction steel, mainly markets in ASEAN, the EU (16%), and the US (8%).4. MRS Steel - sourcing and importing various steel products from VietnamAccording to a report by the Vietnam Steel Association (VSA), modern production line technologies from Hoa Phat and Formosa also help improve the autonomy of domestic HRC. This helps stabilize the domestic prices of galvanized steel and steel pipes, reduce dependence on world HRC prices, and increase the advantage of steel export prices. By taking advantage of domestic raw materials, Vietnamese steel factories help limit pressure due to latency. In addition, the recent advantages of the government's export duty policy also contribute to making Vietnam a potential supply for many foreign partners. However, under trade barriers and cultural, language, and geographical obstacles, importers still face difficulties finding reputable and quality suppliers.Currently, MRS Steel is one of the units specializing in providing solutions for sourcing and importing various steel products from Vietnam to help customers save time and effort in purchasing. Over 12 years of establishment and development, MRS Steel is proud to bring satisfied experiences to major importers from the EU, USA, Canada, Mexico, Australia, the Middle East, Southeast Asia, etc. MRS Steel connects with the largest steel factories in Vietnam, such as Hoa Phat, Ton Hoa Sen, POMINA, Ton Dong A, SENDO,... MRS Steel can meet all product requirements of customers with the best price.Above is the latest information about the steel industry growth in Vietnam and globally in early 2023. Don't forget to follow and update many other impressive articles about Vietnam's iron and steel industry and the world exclusively at MRS Steel.For more information and specific quotation, please contact MRS Steel via:Address: No.41 Street 37, Van Phuc City, Hiep Binh Phuoc Ward, Thu Duc City, Ho Chi Minh City, VietnamWhatsapp: +84 76 911 2358Hotline: +84 28 36 22 33 58Email: vanloc@mrssteel.com.vn