Economists warned that by raising prices, domestic steel producers are paving the way for foreign-made steel products to flow into Vietnam.
After lowering prices four times in May and June 2010, domestic steel mills have raised prices again, by 200,000-700,000 dong per ton, since the start of July.
Southern Steel Corporation, belonging to the Vietnam Steel Corporation, [...]
The Ministry of Industry and Trade (MOIT) has allowed investors to increase the investment capital of Guang Lian Dung Quat steel project to $4.5 billion, thus raising the capacity to seven million tons per annum. The Vietnam Steel Association (VSA) has expressed its concern about the feasibility of the project.
In a reaction to the decision [...]
The southern branch of the Vietnam Steel Corporation has raised the price of rolled steel by VND300,000 a tonne, the fourth increase in July alone.
Rolled steel is sold at VND14.26-14.32 million per tonne and sheet steel at VND14.54 million per tonne at the factory.
However, they are VND500,000 per tonne higher than on the market.
Steel prices [...]
Zamil Steel Viet Nam announced it has completed a contract to build a steel mill that will have a production capacity of 1 million tonnes per year in Ba Ria – Vung Tau Province.
The company was appointed by Pomina Joint Stock Co, a steel products manufacturer under the Thep Viet Corp, to implement all phases [...]
Steel pipe manufacturers in Vietnam are trying to export steel pipe products to the US. However, in the first period of “conquering” the US market, turnover is not the most important factor for Vietnamese exporters.
Having cemented a firm position in the domestic market, Hoa Phat Steel Pipe Company has decided to boost exports to the [...]
Nha Be Steel JSC (UPCoM coded TNB) announced Q2 business result with total revenue of 156.11 billion dong, and 5.46 billion dong of profit after tax, equaling 46.25 percent and 70.09 percent respectively against the same period of last year. Accumulative revenue gained 373.48 billion dong, equal to 71.62 percent year-on-year, and accumulative profit after [...]
Taiwanese Formosa Group, investor of a mammoth Ha Tinh city steel project, has asked the Government for preferences. If the Government agrees, experts argue that it must also amend current laws.
With total estimated investment capital of $16 billion, the Son Duong Steel Complex and Deep Water Seaport project in Vung Ang Economic Zone in Ha [...]
Work will officially begin today on Kobelco Viet Nam Co Ltd’s sponge iron factory in the central province of Nghe An.
The US$1 billion factory will occupy an area of 40ha and be able to produce 2 million tonnes of products per year.
The mill is expected to be fully operational in the first part of 2013.
The [...]
South Korea’s top steelmaker Posco said Wednesday that it will expand its stainless steel production capacity in Vietnam to meet growing demand in Southeast Asian markets.
The world’s third-biggest steelmaker acquired in July last year Asia Stainless Corporation, a Vietnamese cold-rolled stainless steelmaker with a capacity of 30,000 mt/year. Over the past year, Posco has expanded [...]
The Japan-based Kobe Steel Group plans to officially start construction works on a new steel mill situated in Hoang Mai Industrial Zone, Nghe An province with total investment capital of $1 billion dong.
As planned, the construction on the steel mill will be divided into two phases. In each phase, the investors will build one steel [...]
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