Vietnam’s steel producers embracing CBAM transition

Vietnam’s steel producers embracing CBAM transition

Vietnam’s steel production industry is taking initial steps in shifting to greener production and minimising emissions to adjust to the requirements of major markets such as the EU.
Steelmakers must act now in CBAM entry

Steelmakers must act now in CBAM entry

The introduction of the EU’s carbon border policy will be particularly crucial for Vietnamese steel companies, as they are among the top emitters of greenhouse gases domestically.
Accelerated public investment deemed the way out from steelmaking challenges

Accelerated public investment deemed the way out from steelmaking challenges

Steelmakers are hoping for a stronger 2024 through avenues such as public investment, after a downward trend in prices and demand.
Exporting pressures heaped onto steel enterprises

Exporting pressures heaped onto steel enterprises

When competing with China’s massive output, Vietnam’s exports of steel are being hampered.
Steelmakers encouraged to look to premium segment

Steelmakers encouraged to look to premium segment

Although large steel firms have been urged to restructure away from construction steel towards industrial products to avoid getting bogged down in a depressed market, most still fail to have the capacity to do so.
Local steel manufacturers backing product quality

Local steel manufacturers backing product quality

Local groups using stainless steel have stated that complaints related to substandard products are far off the mark.
Domestic businesses face severe cash shortages

Domestic businesses face severe cash shortages

A lack of capital is making it difficult for businesses to maintain operations.
Steelmakers deny advantage from anti-dumping fix

Steelmakers deny advantage from anti-dumping fix

South Korean group Posco VST, which owns the biggest cold rolling steel plant in Vietnam, is likely to gain benefits from anti-dumping measures on some cold-rolled stainless steel products – however, both the company and the Ministry of Industry and Trade have denied a monopolitic stance in the market.
Groups get to grips with anti-dumping

Groups get to grips with anti-dumping

Increasing knowledge and strategy about trade remedies is an effective tool to protect the rights of domestic manufacturing industries in the context of integration and protectionism, government leaders have said.
Steelmakers question timing of product tax adjustments

Steelmakers question timing of product tax adjustments

Some steelmakers are urging the Ministry of Finance to take a closer look at a proposal to add an export tax on steel billets and cut import taxes for other steel products as these could hurt their operations, although the change is primarily being set up to stabilise domestic prices.
Local steelmakers red hot on investment

Local steelmakers red hot on investment

Over recent months, the steel market has retained positive momentum after its recovery in mid-2020, helping many steel producers record a strong performance in the first quarter of 2021.
Buoyant steelmakers still hoping for more

Buoyant steelmakers still hoping for more

Listed steel companies announced breakthrough business results in the fourth quarter of 2020, enticing potential investment in the sector, and ending a successful year that they could hardly have imagined after the first period of the year was negatively affected by the pandemic outbreak.
Tough spot for steel ventures as pandemic cuts off progress

Tough spot for steel ventures as pandemic cuts off progress

The global coronavirus developments coupled with the falling demand are adding more pressure for some steelmakers to lay idle their projects, cut products, or ponder mergers and acquisitions strategies to ensure their cash.
Steelmakers urge import protection

Steelmakers urge import protection

Amidst the US-China trade tensions, local steelmakers are worried that imported cold-rolled steel products from China could eventually ruin their business and have petitioned the Ministry of Industry and Trade for additional anti-dumping measures to control the influx of Chinese steel.