AsemconnectVietnam - According to the Vietnam Steel Association ( VSA), in the first 4 months of 2023, finished steel production reached 8,866 million tonnes, down 22.4% over the same period in 2022.

Sales of finished steel reached 8.1 million tonnes, down 23.1% over the same period in 2022. Of which, exports reached 2.301 million tonnes, down 6.2% over the same period last year.
Finished steel production reached 2.174 million tonnes, down 9.66% compared to March 2023 and down 26.3% over the same period in 2022.
Sales of all kinds of steel reached 2.032 million tons in April of 2023, down 8.32% over the previous month and down 15.1% over the same period.
Stainless steel round wires not evade AD duty from US
The US Department of Commerce (USDOC) determined that the US imports of stainless steel round wire from Vietnam are not circumventing the anti-dumping duty (AD) order on stainless steel wire rods from South Korea.The conclusion kept the same as the preliminary determination made by the USDOC on December 2022.
The deadline for the final ruling on this circumvention inquiry was extended by the USDOC to May 24, 2023.
Asks businesses to keep close watch on US investigation into boltless steel shelving imports
The US Department of Commerce (DOC) has commenced anti-dumping investigation into bottless steel shelving units from Vietnam, Trade Remedies Authority of Vietnam said, recommending enterprises producing and exporting related products keep a close watch on the next developments of the case. ​
On 25 April 2023, Edsal Manufacturing Co., Inc, the largest producer of boltless steel shelving in the US, filed a petition to the DOC and the US International Trade Commission (USITC) to initiate an anti-dumping duties investigation into certain boltless steel shelving allegedly dumped from Malaysia, India, Taiwan (China), Thailand and Vietnam. The product under investigation is packed boltless steel shelf with HS code 9403.200075.
The petitioner has alleged that boltless steel shelving imported from Malaysia, India, Taiwan, Thailand and Vietnam are being, or are likely to be, sold at less than fair value in the US. The petitioner further alleged that these imports, which have cumulatively surged by 68.5% from 2020 to 2022, are causing, or threatening to cause, material injury to the US boltless steel shelving industry.
Vietnam ranked 13th among global steel producers
Vietnam ranked 13th in the world in terms of steel production output in 2022, with 20 million tons, accounting for 1.1 per cent of total global supply.
Global steel makers produced 1.878 billion tons last year, a slight increase against 2019’s 1.875 billion tons, prior to the outbreak of Covid-19.
China led the world with 1.013 billion tons, followed by India, Japan, the US, and Russia.
Among the top 15 countries and territories producing steel, only India, Iran, and Indonesia posted an increase in steel production output in 2022.
Most remaining producers posted falls in production output of around 5 per cent year-on-year, while Turkey, Italy, Taiwan (China), and Vietnam witnessed double-digit falls.
Market instabilities cause steel firms to adjust business plans
Many fluctuations in the domestic and foreign financial-economic markets have appeared, causing steel enterprises to adjust their business plans.
Inside a factory of Hoa Phat Group (HPG). Since the beginning of 2023, domestic construction steel prices have witnessed five-six downward adjustments, depending on different brands.
The freezing of the Chinese real estate market, falling prices of rebars in China, Viet Nam’s EVN raising electricity prices, and the State Bank lowering interest rates for the third time will all impact the resilience of businesses in the steel industry in the short term.
Steelmaker Tung Ho Vietnam secures $25 mln finance from Standard Chartered
Standard Chartered Vietnam announced on May 26, 2023 the signing of a transition trade finance facility sized at $25 million to support Tung Ho Steel Vietnam Corp.
The finance facility will support the steelmaker’s ongoing procurement of scrap steel as part of Tung Ho Steel’s scrap-based electric arc furnace (EAF) production.
Tung Ho Steel Vietnam is a subsidiary of Tung Ho Steel Enterprise Corporation, the largest EAF-based steel producer in Taiwan.
T.Huong
Source: Vitic