The steel industry in Vietnam is expected to have a positive outlook for 2024, with major companies like Hoa Phat and Hoa Sen projected to experience significant recoveries, while small businesses may face challenges in finding output due to the recovery of steel prices and demand from large contractors. Hoa Phat Group (HPG) continues to dominate the steel industry, contributing 88% to the industry’s after-tax profit ratio. HPG holds the largest market share in construction steel and steel pipe consumption, with 37.31% and 24.59% respectively.
Source: Vietnam News Agency
