Hoa Phat Long An Steel Pipe Company Limited (Vietnam)

The subject specializes in manufacturing and trading steel. Its machines are imported from Hong Kong, China, etc. The subject is an indirect subsidiary of Hoa Phat Group, which has gradually expanded its business to trading and production of furniture, steel pipe, steel, refrigeration, real estate, and agriculture.According to the latest report from the Vietnam Steel Association (VSA), in September 2022, finished steel production reached 2,446 million tons, an increase of 23.41% compared to August 2022 and an increase of 1.7% compared with the same period in 2021; steel consumption of all kinds reached 1,998 million tons, down 7.19% over the previous month and down 9.9% over the same period in 2021. Regarding the export situation, the updated data to August 2022 showed that export Vietnam's finished steel products reached 513.74 thousand tons, down 16.26% from the previous month and down 65.82% over the same period in 2021. Export value reached USD 457.61 million, down 29.02% compared to July 2022 and down 68.25% over the same period in 2021. Commenting on the domestic steel market from now to the end of the year, experts believe that in the fourth quarter of 2022, it may prosper, because this is the period when steel demand increases when construction works rush to speed up progress. However, whether the demand increases or not depends on many factors, especially when the inventories of enterprises are still high, it takes time to process.