The Vietnamese steel market is a lucrative piece of cake that many businesses compete for, with many new forces emerging.
The quiet real estate market is one of the big reasons why steel production and consumption tend to decrease in 2023. However, with efforts to promote public investment capital and promote infrastructure development, the steel industry still has certain positive signs.
Regarding crude steel, total production output in the first 8 months of the year reached 12,414 million tons, down 14% over the same period. Consumption output reached 12.147 million tons, also down 10% over the same period. Good signs came from export activities when total output reached 1,273 million tons, up 82% over the same period.
Construction steel in the first 8 months of the year was quiet with total production output reaching 6.848 million tons, down 21.7% over the same period. Consumption output reached 6.78 million tons, down 22.4% over the same period, of which export output reached 1,117 million tons, down 35.1% over the same period.
If calculated by each item, rolled steel consumption output reaches 1.786 million tons; Bar steel reached 4.679 million tons and shaped steel is more than 313,844 tons.
Hoa Phat still maintains its throne in the construction steel industry's market share, but the group behind it has gradually made certain breakthroughs, giant Tisco once had a market share of less than 5%, while a series of new names such as Sheng Li, Vina Kyoei, Tung Ho... are gradually gaining more market share.
In the first 8 months of the year, steel prices also fluctuated strongly, witnessing fierce competition between businesses in the war for market share.
Steel pipes continue to be fertile land. Currently, Hoa Phat holds the monopoly with a 27.48% market share. Total domestic production output in the first 8 months of the year reached 1,572 million tons, down 5.3% over the same period; Total consumption reached more than 1.6 million tons, down 7% over the same period. The market share of steel pipes may be usurped as runner-up in the following group when SeAH, Minh Ngoc, and TVP are all equal.
Metal plating and color coating witnessed the rise of Ton Dong A. Hoa Sen still maintains the throne with 27.3%, however, Ton Dong A ( GDA ) recently had a turning point when it listed its shares for trading on the stock exchange, promising a new game.
Total industry production output in 8 months reached 2,992 million tons, down 5.1% over the same period. Consumption output reached 2.74 million tons, down 6.8% over the same period.
Cold-rolled steel and hot-rolled steel also witnessed many surprises. Hot rolled steel production is a two-horse race between Hoa Phat and Formosa Ha Tinh with total production output in the first 8 months of the year reaching 4,313 million tons, down 2.3% over the same period, of which Hoa Phat reached 2,475 million tons. ton; Consumption output reached 1,214 million tons, down 19.8% over the same period.
The cold-rolled steel segment's total production output was 2.07 million tons, down 21.7% over the same period. Consumption output reached 1,214 million tons, down 19.8% over the same period. Notably, although Hoa Sen still produces a large amount of cold-rolled steel, accounting for about 41.38% of the total cold-rolled steel output of the entire market, it does not record sales. The leading unit in cold rolled steel sales belongs to Posco Vietnam.
(Kien Thuc Dau Tu)