Tvp Steel Joint Stock Company (Vietnam)

The subject - TVP Steel specializes in manufacturing and trading types of steel such as hot-dip galvanized/ galvalume steel coil, prepainted galvanized steel coil, galvanized steel pipe, PO coil, cold roll, purlin C, V, and corrugated sheet. It is a member of the Vietnam Steel Association (VSA). Especially, thanks to regular investment in new factory areas and production lines, the subject's production capacity was improved continuously. Specifically, TVP Steel's coated steel products are produced with advanced technology according to British Standard BSI EN, American Standard ASTM, ISO Standard and Japanese JIS Industrial Standard.In 2020, according to a report issued by VSA, TVP Steel was ranked 4th in terms of market share of galvanized steel consumption with a proportion of 9.6%, behind Hoa Sen Group, Nam Kim Steel and Ton Dong A.According to Ms. Yen - the subject's staff, due to the fourth strong outbreak of the Covid-19 pandemic, the subject implemented "3 on-site" production from 17 Jul 2021 to 15 Oct 2021. In that period, it operated at 50% of production capacity with half of workers. However, the company still recorded positive revenue growth that year.Sharing with the press, the subject's representative said that 2022 was an extremely difficult year for many businesses, especially the steel industry. Consumption faced many difficulties in both domestic and export markets. Meanwhile, prices of input materials, transportation costs, financial costs... all increased. TVP Steel applied many measures to overcome difficulties. In addition to reforming production and expanding markets, the company focused on developing new products from steel which was received by the market.According to media information, domestic steel consumption has not improved much. In the first 9 months of 2023, steel factories still had to push steel exports to compensate for the domestic consumption. In the fourth quarter of 2023, the real estate market has not prospered when new geopolitical tension between Hamas and Israel is clouding the outlook for global economic recovery. Unfavorable market conditions make steel manufacturers have less opportunity to increase steel prices although production costs increase. Even the domestic steel prices could still be under slight downward pressure. Besides weak domestic purchasing power, Vietnamese steel also faces competition from Chinese steel. In the third quarter of 2023, the import of steel from China increased by 52% over the same period last year. In case of the fact that China's economy slowly recovers, steel mills in this country will tend to boost steel exports to neighboring markets, including Vietnam.