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Raw material cost supporting the electric wire and cable production sector

Wires and electrical cables are highly versatile products used in all economic projects, meeting the increasing demands of production and daily life in modern society. In Vietnam, there are currently over 200 enterprises involved in the production and export of wires and electrical cables.

Among exported goods, the goods with the highest export value growth rate in the first month of 2023 are electrical wires and cables, with a growth rate reaching 11.41% compared to the same period last year. The export value of this item fluctuated from 250-300 million USD from January to September 2023. In 9 months, the total export value reached about 2,500 million USD.

In addition to exports, the production of electrical wires and cables depends heavily on the large projects of the country. In the first 10 months of 2023, EVN and its units commenced 62 projects and completed the electrification, putting into operation 71 power grid projects from 110kV to 500kV (including: 01 project 500kV, 09 projects 220kV, and 61 projects 110kV). Currently, Vietdata does not have specific data on the length of the wires. However, if we compare the number of projects, there is a decrease when comparing the first 10 months of 2022. Specifically, in the first 10 months of 2022, EVN and its units commenced 92 projects and completed the electrification, putting into operation 82 power grid projects from 110kV to 500kV (including: 6 projects 500kV, 15 projects 220kV, and 61 projects 110kV).

The business situation of companies producing electrical wires and cables will depend on many factors, including typical factors such as input raw material price and selling price.

  • Input raw material price:

Copper is the main raw material accounting for about 85% of the cost. The price of copper has been maintained below the average level since 2022. It is forecasted that in 2024, the price of copper will depend heavily on the US monetary policy and the largest global copper consumer market, which is China.

  • Selling price:

The average retail price of electric cables in 2023 fluctuated around 8,200-8,400 VND, a price level that has been existing since 2020.

With the decrease in input raw material costs and remaining at a low level for nearly 11 months in 2023, while the retail price is kept constant. It can be forecasted that the profit margin of the electric cable manufacturing company will be improved and support the business operations in 2023.


Vietnam Electric Cable Company, a member of Gelex Electric Joint Stock Company, was established on October 6, 1975 under the brand Cadivi. After being equitized, Cadivi became a joint stock company in September 2007. It has 3 factories, 2 member companies, and a distribution system including over 200 nationwide first-tier agents. The annual production capacity reaches 60,000 tons of copper, 40,000 tons of aluminum, and 20,000 tons of PVC resin.

The company's net revenue fluctuates slightly at around 11,000 billion VND. After-tax profits also vary similarly to net revenue, hovering around 400 billion VND.

ThiPha Cable

Established in 1987, ThiPha Cable has undergone nearly 30 years of formation and development. In April 2020, Thipha Cable officially merged into the Stark Corporation Public Company Limited and Phelps Dodge International (Thailand) Limited. It currently has about 1,000 employees and supplies 90,000 tons of products annually to both domestic and international markets, including high-voltage, medium-voltage, low-voltage power cables, and fire-resistant cables.

In 2020, the company's net revenue reached around 5,000 billion VND, experiencing a significant increase of over 50% in 2021, followed by a decrease of nearly 25% in 2022. The after-tax profit showed remarkable growth of over 500% in 2021, but then experienced a decline of about 90% in 2022, reaching nearly 100 billion VND.


Operating under the trade name Cadi-Sun, formerly known as Thuong Dinh Cooperative (established in 1985), the company transformed into Thuong Dinh Co., Ltd on April 20, 1999, and is now Cadi-Sun Joint Stock Company. The company achieved a net revenue of around 4,000 billion VND in 2020, with a nearly 40% increase in 2021 and insignificant fluctuations in 2022. The after-tax profit continuously increased from 2020 to 2022, specifically reaching around 50 billion VND in 2020, with over 60% and 70% growth in the following 2 years.

Xuan Loc Tho

Xuan Loc Tho Co., Ltd, formerly known as Xalotho Company established in 1995, has evolved over 25 years into a large group with multiple subsidiaries and manufacturing plants, focusing on electrical equipment, water, plastic, rubber, and printing under the SINO-VANLOCK-SP brand. The company's net revenue has fluctuated around 3,000 billion VND, while the after-tax profit has shown stable growth, specifically exceeding 30 billion VND in 2020, with approximately 10% growth in 2021 and 2022.


Tran Phu Electrical Mechanical Joint Stock Company was established in 1965, originating from the merger of two enterprises under the Hanoi Construction Department. The company currently employs 276 people, including 60 administrative-office workers.

Trapuco's net revenue has maintained an upward trend for 2 consecutive years, reaching around 2,500 billion VND. However, the post-tax profits have been decreasing. Specifically, the company made over 300 billion in 2020, a decrease of over 20% in 2021, and nearly 5% in 2022.


With over 50 years of operation in the wire and cable industry in Taiwan, Taya (Vietnam) Company officially began production and product consumption in July 1955 with state approval. The company's main products include electrical wires, XLPE insulated cables, and electric magnets.

Taya's net revenue increased by nearly 30% in 2021, with a slight decrease in 2022. The post-tax profits ranged around 70 billion VND from 2020 to 2021, but decreased sharply by over 50% in 2022.

Ngoc Lan Cable

Ngoc Lan Cable was established in the early 1990s and has been developing for over 25 years. It is a manufacturer of electrical cables for the national power grid both domestically and internationally, as well as being involved in infrastructure projects and civil construction. The company focuses primarily on two product lines: uPVC cables and electrical cables.

During the 2020-2022 period, the net revenue remained relatively stable, reaching around 170 billion VND. The post-tax profit maintained an increasing trend, achieving nearly 0.07 billion in 2020, increasing by over 10% in 2021, and experiencing a significant surge of nearly 200% in 2022.


Daphaco Joint Stock Company for Electric Cables was established in 1999, specializing in the production and business of electrical wires and cables under the two brands Daphaco and Lion, catering to domestic and export demands. It has a wide distribution network with over 200 agents nationwide and a production capacity of approximately 30,000 tons per year.

The brand recorded fluctuating net revenues around 900 billion VND from 2020 to 2022. The post-tax profit was relatively modest, around 500 million for both 2020 and 2021, decreasing by nearly 50% in 2022.


Established in 1973, Vithaico Joint Stock Company specializes in manufacturing various types of electrical cables with copper and aluminum conductors: power cables, civilian cables, solar cables, control cables, metering cables, etc., with an annual production volume of about 30,000 tons.

The brand experienced stable growth in net revenue, reaching over 200 billion VND in 2020 and consistently increasing by approximately 35% for the following 2 years. As for post-tax profits, it recorded outstanding growth of over 4,000% in 2021, followed by a decrease of nearly 40% to approximately 3 billion in 2022.


Goldcup Electric Cable Joint Stock Company is a private enterprise established in 1994. For many years, the brand's main products have focused on electric cables, information cables, control cables, and wire production.

The company's net revenue fluctuated around 1,000 VND from 2020 to 2022. After-tax profit reached around 35 billion in the first 2 years, but decreased by nearly 100% in 2022.

Lucky Sun

In 1991, Hoan Phuong Production Base - the predecessor of Lucky Sun Electric Cable and Wire Company Limited, specializing in producing civil electric wires and cables, was established. In addition to producing low-voltage electric cables, the brand also offers products such as civil electric wires and wires for cars and motorcycles to meet the high demand of the market.

Net revenue has recorded growth for 2 consecutive years. Specifically, it reached nearly 80 billion VND in 2020, and increased by about 40% and 5% respectively in 2021 and 2022. After-tax profit has fluctuated significantly. In 2020, it recorded a loss of over 2 billion, increased by nearly 150% in 2021, and decreased by nearly 100% in the next year.

According to the proposal sent by the Ministry of Industry and Trade to the Government on issuing the implementation plan for Power Plan VIII, in the period up to 2030, Vietnam needs about 11.3 - 13.5 billion USD annually to invest in power projects and grids. It can be seen that the electric cable and wire production market in Vietnam has great potential due to the increasing demand in industries, construction, and electricity systems in the process of industrialization and urbanization. At the same time, the input material prices, mainly copper, are currently low. The export market for electric cables and wires to Vietnam is also highly supportive. In addition to gaining the trust of millions of individual consumers for the quality of products, the confidence in the manufacturing companies is also growing day by day. Vietnam also has low labor costs and abundant raw materials, which creates favorable conditions for production. With these potentials, the electric cable and wire production market in Vietnam is likely to develop strongly in the future.

Source: Vietdata's 2022 market report on the production of wires and cables in Vietnam.


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