AsemconnectVietnam - After Vietnam’s Formosa Ha Tinh Steel Corporation (FHS) announced to hike hot-rolled prices by US$62/ton for April, Hoa Phat Group also increased its prices by around US$40-50/ton for April, which has been raised by about US$100 in two months.

The price difference between Ha Tinh Steel and Hoa Phat is merely US$15-20/ton currently. Supported by costs, Ha Tinh Steel was expected to further increase its prices for May in the middle of this month.
Vietnam’s steel & aluminum industry to be impacted by CBAM
According to experts, the EU’s Carbon Border Adjustment Mechanism (CBAM) will impact Vietnam’s whole economy and trade activities, especially in iron and steel, aluminum, and cement industries, which have high carbon emissions.
Sirpa Jarvenpaa, the Director of the Southeast Asian Energy Transition Partnership, said that CBAM is a crucial issue for Vietnam, one of the major exporters to the EU. Vietnam’s producers and exporters to the EU will be directly affected by CBAM.
Reducing greenhouse gas emissions is now a global trend and it will affect enterprises’ competitiveness in global markets. Some countries in the world are currently considering setting regulations to speed up decarbonization.
The CBAM will take effect in October this year as a transitional phase, and it will be fully operational in January 2026.
Vietnamese Hoa Phat’s crude steel output increases in Mar m-o-m
According to the news released by Vietnam’s Hoa Phat Group, in March, its crude steel production totaled 440,000 tons, increasing by 6% month on month. Meanwhile, the sales of steel billet, construction steel, and hot rolled coil (HRC) were 500,000 tons, a month-on-month increase of 5%.
Among them, Hoa Phat Group supplied 282,000 tons of construction steel and high-quality wire rod to both domestic and foreign markets. The amount kept flat compared to February but plunged by 45% from last March. The decrease was due to low demand from the local and export market. Also, Vietnam’s real estate industry still has not recovered yet.
Vietnam's Hoa Phat Group strides into urban comprehensive development plan
Vietnam's Hoa Phat Group expects to carry out several urban integrated development projects covering an area of 300-500 hectares each in the next 10 years, which is an important development plan for the company.The company is currently looking for potential locations. Last year, the subsidiaries of Hoa Phat bid for construction projects in northern provinces like Hung Yen, Phu Tho, and Bac Giang.
Hoa Phat has been operating in the real estate industry for 21 years, with the main construction activities clustered in Hung Yen and Ha Nam provinces.
Vietnam extends safeguard measure on long steel products, cancels that on steel billet
According to a notice issued by the Ministry of Industry and Trade of Vietnam on March 21, 2023, Vietnam decided to extend the safeguard measure on alloy and non-alloy long steel products, valid for another three years. The safeguard duty for long steel products is 6.3% for the period from March 22, 2023 to March 21, 2024, 6.2% from March 22, 2024 to March 21, 2025, and 6.1% from March 22, 2025 to March 21, 2026. The duty will be lowed to zero after March 22, 2026.
The long steel products involved are classified under HS codes 7213.10.10, 7213.10.90, 7213.91.20, 7214.20.31, 7214.20.41, 7227.90.10, 7227.90.90, and 7228.30.10.
On the contrary, the safeguard measure on steel billet products will be no longer applicable. The billet products are under HS codes 7207.11.00, 7207.19.00, 7207.20.29, 7207.20.99, and 7224.90.00.
This determination takes effect from March 22, 2023.
Vietnam’s scrap imports surge in Feb m-o-m
According to statistics from the General Department of Vietnam Customs, Vietnam’s scrap imports surged by 126% month on month to around 482,600 tons in February this year. The increase in procurement was mainly due to optimistic expectations for the finished steel market. Among the imports, the volume from Japan was up by 70% and that from the US even soared by 226%, both compared to the previous month.In the first two months of this year, Vietnam imported around 682,400 tons of scrap, a year-on-year increase of 32.4%.
T.Huong
Source: Vitic/Yieh