Kim Quoc Steel Company Limited (Vietnam)

The subject specializes in trading kinds of steel. Its products (such as flat-rolled steel coils, hot-rolled steel coils, non-alloy steel coils, etc.) are imported mainly from Hong Kong, China, India, Australia, etc. All products are distributed in domestic market only.According to the Vietnam Steel Association (VSA), steel manufacturing output in September totaled nearly 2.34 million tons, up 2.41% month-on-month and down 4.2% year-on-year. Steel consumption was nearly 2.2 million tons, increasing 4.7% month-on-month, and 9.4% year-on-year. In the third quarter, nearly 6.5 million tons of steel were sold, up 6.3% year-on-year. Of the total, over 2 million tons were shipped abroad, representing a year-on-year surge of 70%. With recovery in demand, steel enterprises have recorded sound production results. Consumption of construction steel, hot-rolled coil steel and steel billets of the Hoa Phat Group reached 596,000 tons in September, rising 7% against the previous month. Meanwhile, the Vietnam Steel Corporation sold 268,000 tons of steel in September, the highest amount recorded since the outset of this year. Experts are optimistic about the steel industry's recovery in 2024 as the government's policies and the revised Land Law are put in place to support the real estate market and the construction industry.