Vietnam’s steelmaker's Hoa Phat, Hoa Sen, Nam Kim, VNSteel, and Tisco have incurred heavy losses in October-December quarter of 2002. As per media reports, the six industry giants have now seen losses of more than VND3.9 trillion (USD 152 million) in the last quarter of 2022.Hoa Phat Group - (VND2 trillion (USD 85 million)Hoa Sen Group – VND 680 billion (USD 29 million) VNSteel – VND 567 billion (24 million)Pomina Steel – VND 460 million (USD 20 millionNam Kim - VND356 billion (USD 15 million)Tisco – VND 17 billion (USD 724,000)Vietnam’s steel market was generally gloomy last year. For Vietnam’s steel industry, 2022 was a challenging year with falling consumption and complicated developments in material costs. Many businesses encountered difficulties and suffered losses The Vietnam Steel Association reported that production fell by 12% for the year to 29.3 million tons, and demand by 7% to 27.3 million tonnes.
Vietnam’s steelmaker's Hoa Phat, Hoa Sen, Nam Kim, VNSteel, and Tisco have incurred heavy losses in October-December quarter of 2002. As per media reports, the six industry giants have now seen losses of more than VND3.9 trillion (USD 152 million) in the last quarter of 2022.Hoa Phat Group - (VND2 trillion (USD 85 million)Hoa Sen Group – VND 680 billion (USD 29 million) VNSteel – VND 567 billion (24 million)Pomina Steel – VND 460 million (USD 20 millionNam Kim - VND356 billion (USD 15 million)Tisco – VND 17 billion (USD 724,000)Vietnam’s steel market was generally gloomy last year. For Vietnam’s steel industry, 2022 was a challenging year with falling consumption and complicated developments in material costs. Many businesses encountered difficulties and suffered losses The Vietnam Steel Association reported that production fell by 12% for the year to 29.3 million tons, and demand by 7% to 27.3 million tonnes.
