TOP 05 LARGEST STEEL COMPANIES IN VIETNAM

In the first half of 2020, due to the impact of the Covid-19 pandemic, many members of the Vietnam Steel Association (VSA) experienced a decline in revenue. However, the market started showing positive changes in the second half of 2020. In 2020, Vietnam’s crude steel production and sales increased by 14% and 12% respectively, and steel exports grew by 3.55 times compared to the same period last year. The production and sales of steel products was up by 2.7% and 1.4% respectively compared to 2019.

With the ability to recover quickly, the steel industry is expected to continue to witness double-digit growth in 2021. Domestic steel demand is forecasted to increase sharply due to the increase of public investment, infrastructure construction and the recovery of the real estate industry (Vietcombank Securities Company), especially the industrial real estate segment. Disbursement progress which, has accelerated since mid-2020, is also expected to have a positive impact on the steel industry this year.Overview of Vietnam’s steel industry.
In the first half of 2020, due to the impact of the Covid-19 pandemic, many members of the Vietnam Steel Association (VSA) experienced a decline in revenue. However, the market started showing positive changes in the second half of 2020. In 2020, Vietnam’s crude steel production and sales increased by 14% and 12% respectively, and steel exports grew by 3.55 times compared to the same period last year. The production and sales of steel products was up by 2.7% and 1.4% respectively compared to 2019.

With the ability to recover quickly, the steel industry is expected to continue to witness double-digit growth in 2021. Domestic steel demand is forecasted to increase sharply due to the increase of public investment, infrastructure construction and the recovery of the real estate industry (Vietcombank Securities Company), especially the industrial real estate segment. Disbursement progress which, has accelerated since mid-2020, is also expected to have a positive impact on the steel industry this year.
According to the ranking of steel companies conducted by VietnamCredit in 2020, Vietnam Steel Corporation was the largest steel company in Vietnam. However, this year the order has been reversed.
In the Vietnam Country Report 2021, which has recently been released by VietnamCredit, Formosa Ha Tinh Steel Corporation is the largest steel company in Vietnam, followed by Hoa Phat Group, VNSteel Southern Steel Company Limited, Hoa Sen Group…

1. FORMOSA HA TINH STEEL CORPORATION

Formosa Ha Tinh Steel Corporation was established on June 12, 2008, currently located at Vung Ang Economic Zone, Ky Long Ward, Ky Anh Town, Ha Tinh Province.

Formosa is the investor of the Son Duong iron and steel complex project (starting in 2008) with a total investment capital of nearly 10 billion USD (with a capacity of more than 10 million tons/year in phase I).

Formosa Ha Tinh company was registered to operated in 11 business fields including manufacturing and trading of iron an
d steel, port business, cement production, trading thermal power plants and water treatment plants, construction, installation, operation and sales of gas plants, sales of compressed gases and liquids used in industry such as oxygen and nitrogen, manufacturing, processing, trading, importing and exporting products related to coking coal, tar, light crude oil, and real estate business.

2. HOA PHAT GROUP 

Hoa Phat Group is one of the largest industrial production groups in Vietnam. It was formerly known as a company specializing in trading construction machines. Hoa Phat has expanded its business into other fields including furniture, steel pipes, construction steel, refrigeration, real estate and agriculture.

Currently, Hoa Phat Group has 11 member companies and 01 office in Singapore, with 25,424 employees. Steel production is its core business, accounting for over 80% of the Group’s revenue and profit. With a capacity of over 8 million tons of steel of all kinds, Hoa Phat Group is the largest construction steel and steel pipe manufacturer in Vietnam with market shares of 32.5% and 31.7%, respectively.

In 2020, the group achieved a revenue of 91,279 billion VND, up 41% compared to 2019. Hoa Phat’s profit after tax reached 13,506 billion VND, exceeding 50% of the plan, up 78% over the same period and nearly 10 times higher than 2010.

3. HOA SEN GROUP

Hoa Sen Group Joint Stock Company, formerly known as Hoa Sen Joint Stock Company, was established on August 8, 2001 with the initial charter capital of 30 billion VND. On November 8, 2007, the company transformed into Hoa Sen Group Joint Stock Company (Hoa Sen Group). It was the first non-state owned enterprise in Vietnam to build a cold rolled steel factory.

Hoa Sen Group currenlty holds more than 40% market share of corrugated iron, and nearly 20% market share of steel pipes. It is also the leading steel sheet exporter in Southeast Asia.

4. NAMKIM STEEL JSC

Nam Kim Steel Joint Stock Company (trademarked “Tôn Nam Kim”) is a leading coated steel manufacturer in Vietnam. By a motto always being a pioneer in investment of new technology, Tôn Nam Kim would like to offer our products to the domestic and international customers with the best quality. Until now, our products are fully nationwide trusted and exported to more than 50 countries around the world.

Tôn Nam Kim uses modern technology and equipment from the world’s leading corporations in the steel industry i.e. SMS (Germany) and Drever (Belgium). Our raw materials are selected from well-known and enormous suppliers such as Nippon Steel (Japan), Hyundai Steel (Korea), CSC (Taiwan), Formosa (Vietnam), etc. Additionally, at all stages of production, our products are always subjected to severe quality control processes. Thereby, Tôn Nam Kim has achieved certificates of the strictest qualified standards in the world such as JIS (Japan), AS (Australia), ASTM (USA), EN (Europe), ISO 9001 and ISO 14001.

Along with advanced technology, highly qualified professional and experienced teams, Tôn Nam Kim would like to commit and provide its customers qualified, environmental-friendly and economical products.

5. POSCO-VIETNAM CO., LTD.

Posco Vietnam Co., Ltd was established on November 15, 2006 in Phu My 2 Industrial Park, Ba Ria – Vung Tau province. Posco’s steel mill has an average capacity of 1.2 million tons/year. Posco is currently the leading cold rolled steel manufacturer in Vietnam with market share of 85% for production and 99% for exports.

POSCO’s operating profit dropped by 37.9% in 2020 amid the COVID-19 pandemic that has impacted the global steel demand.

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