PM warns Formosa against future environmental violations

Environmental protection must be considered the decisive factor in future operations of the Hưng Nghiệp Formosa Hà Tĩnh Iron and Steel Co (FHS), Prime Minister Nguyễn Xuân Phúc said yesterday.Keep reading ...

Hòa Phát to issue over 250 million shares

Steelmaker Hòa Phát Group (HPG) plans to issue over 250 million shares to raise capital for investment in the second phase of Hoà Phát Dung Quất iron and steel production complex. HPG will sell those shares at a price of VNĐ20,000 (US$0.8) per share, expecting ...

VnSteel aims to increase revenue by VNĐ800 billion

Vietnam Steel Corporation (VnSteel) aims to earn a consolidated revenue of US$835.5 million in 2017, an increase of VNĐ800 billion from 2016. It will produce around 2.4 million tonnes of steel billets this year, up 17 per cent from 2016, VnSteel said. To accomplish these ...

Formosa Plastics taps India, Southeast Asia for growth

Taiwan’s Formosa Plastics, the island’s largest maker of key plastic materials, on Tuesday said it wanted to aggressively expand in India, Southeast Asia, Middle East, and Africa to lower its dependence on China, which has been mired in a prolonged supply glut. “We are aiming to ...

Vietnam should not invest in steel

Former Minister of Planning and Investment, Professor Nguyen Mai, speaks to the Tuoi tre newspaper, suggesting that HSG should focus on the manufacture of high grade alloy rather than steel. Recently, the Hoa Sen Joint Stock Group made public a super project for steel production in ...

Vietnam mulls trade remedies against cheap steel imports: report

Vietnam may take remedial action against imported steel as an influx of cheap imports has reportedly threatened the local steel industry.    News website Bao Dau Tu reported on 27 November that local producers have received support from Deputy Prime Minister Hoang Trung Hai. He ordered the Ministry of Industry ...

Vietnam mulls new import tariff on alloy steel after fraud warning

Vietnam’s Ministry of Finance is considering changing a tax regulation following concerns that the rule has been abused by Chinese exporters to ship a large amount of steel to Vietnam without paying duties.   Currently imported steel with at least 0.3 percent of chrome content will be exempt ...

Vietnam steel association wants fewer plants as supply surplus hurts industry

The Vietnam Steel Association has urged authorities not to go ahead with 27 planned steel plants since local output is already more than twice the demand.   Some of the planned plants have not been started while others have proved impractical or are using outdated technology.   Keep reading ...

Chinese steel may flood Vietnam market

After the strong depreciation of the Chinese yuan, steel industry insiders have warned local steel producers that Chinese steel products could flood the Vietnamese market, causing difficulties for them. Vice-Chairman of the Vietnam Steel Association Nguyen Van Sua said although in recent years, the local steel ...

Vietnam's steel output reaches highest in a decade

Building steel output in July reached 613,000 tonnes, posting 51.5 per cent increase over the same period last year and marking the record high in the past 10 years, said the Vietnam Steel Association. Keep reading ...

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