Overview of Vietnam’s steel industry:
Top 10 largest steel companies in Vietnam 2022:
1. FORMOSA HA TINH STEEL CORPORATION
Formosa Ha Tinh Steel Corporation was established on June 12, 2008, currently located at Vung Ang Economic Zone, Ky Long Ward, Ky Anh Town, Ha Tinh Province.
Formosa is the investor of the Son Duong iron and steel complex project (starting in 2008) with a total investment capital of nearly 10 billion USD (with a capacity of more than 10 million tons/year in phase I).
2. HOA PHAT GROUP (Including: HOA PHAT STEEL SHEET COMPANY LIMITED)
Hoa Phat Group is one of the largest industrial production groups in Vietnam. It was formerly known as a company specializing in trading construction machines. Hoa Phat has expanded its business into other fields including furniture, steel pipes, construction steel, refrigeration, real estate and agriculture.
Currently, Hoa Phat Group has 11 member companies and 01 office in Singapore, with 25,424 employees. Steel production is its core business, accounting for over 80% of the Group’s revenue and profit. With a capacity of over 8 million tons of steel of all kinds, Hoa Phat Group is the largest construction steel and steel pipe manufacturer in Vietnam with market shares of 32.5% and 31.7%, respectively.
In 2020, the group achieved a revenue of 91,279 billion VND, up 41% compared to 2019. Hoa Phat’s profit after tax reached 13,506 billion VND, exceeding 50% of the plan, up 78% over the same period and nearly 10 times higher than 2010.
- Introduction about Hoa Phat Steel Sheet Company
- Leading galvanized steel coils manufacturer/ supplier from Vietnam: https://vsssteeltrade.com/product/galvanized-steel-coils/
3. VNSTEEL – SOUTHERN STEEL COMPANY LIMITED
VNSteel Southern Steel Company Limited, formerly known as Phu My Steel Factory, belongs to Vietnam Steel Corporation – JSC. In 2014, the company changed its operating model to one member limited company.
Currently, the company owns a modern and closed production line including a smelter with a capacity of 550,000 tons/year, a rolling mill with a capacity of 450,000 tons/year and a dedicated port with a cargo capacity of 1 million tons/year.
4. HOA SEN GROUP
Hoa Sen Group Joint Stock Company, formerly known as Hoa Sen Joint Stock Company, was established on August 8, 2001 with the initial charter capital of 30 billion VND. On November 8, 2007, the company transformed into Hoa Sen Group Joint Stock Company (Hoa Sen Group). It was the first non-state owned enterprise in Vietnam to build a cold rolled steel factory.
Hoa Sen Group currenlty holds more than 40% market share of corrugated iron, and nearly 20% market share of steel pipes. It is also the leading steel sheet exporter in Southeast Asia.
5. CHINA STEEL AND NIPPON STEEL VIETNAM JOINT STOCK COMPANY
China Steel & Nippon Steel Vietnam Joint Stock Company (CSVC) is one of the most advanced steel manufacturing companies in the world located in Ba Ria-Vung Tau province, Vietnam. The company was established on the basis of a joint venture between the leading steel corporations in the global steel manufacturing industry of Japan and Taiwan, of which China Steel Corporation (CSC) and Nippon Steel Corporation (NSC) are CSVC’s two largest shareholders.
China Steel and Nippon Steel Vietnam Joint Stock Company specializes in manufacturing and supplying high-quality steel products, including: cold rolled steel coils, galvanized steel coils manufacturer, electromagnetic coils, oil coated steel coils, etc… in Vietnam.
6. POSCO-VIETNAM CO., LTD.
Posco Vietnam Co., Ltd was established on November 15, 2006 in Phu My 2 Industrial Park, Ba Ria – Vung Tau province. Posco’s steel mill has an average capacity of 1.2 million tons/year. Posco is currently the leading cold rolled steel manufacturer in Vietnam with market share of 85% for production and 99% for exports.
POSCO’s operating profit dropped by 37.9% in 2020 amid the COVID-19 pandemic that has impacted the global steel demand.
7. TON DONG A CORPORATION
Dong A Ton Joint Stock Company was established on November 5, 1998 with the name of Dong A Co., Ltd. The company then changed its name to Ton Dong A Co., Ltd. in 2004. After 5 years, Ton Dong A Co., Ltd. became a joint stock company.
The company specializes in the production of zinc, cold, and color steel sheets for industrial and civil construction, transportation infrastructure, and household appliances. With two factories in Song Than 1 and Dong An 2 industrial zones, Ton Dong A currently has 4 zinc/aluminum galvanizing lines with NOF annealing technology, 3 color coating lines, 1 rust removal line and 2 rolling lines cool.
In 2020, Ton Dong A’s revenue reached 12,438 billion VND with an output of 708 thousand tons. It holds the second largest market share of coated steel sheet in Vietnam.
+ Largest GI GL PPGI PPGL manufacturers in Vietnam: https://vsssteeltrade.com/coated-steel-coils-manufacturer-supplier-vietnam/
8. TON DONG A JOINT STOCK COMPANY
Ton Dong A Joint Stock Company was established on December 23, 2002. The head office is located at Binh Duong province, Vietnam. The company’s main business actitivies are production and distribution of cold corrugated iron (55% aluminum zinc alloy coated steel sheet), galvanized steel sheet and industrial steel products.
In 2020, Ton Dong A achieved 11,614 billion VND in revenue, down 5% compared to the same period in 2019, but its EAT reached 295 billion VND – 6.3 times higher than 2019.
9. POMINA STEEL CORPORATION (Including POMINA FLAT STEEL)
On August 17, 1999, Pomina Steel Company Limited, which had formerly been known as Pomina Steel Factory 1, was established with a charter capital of 42 billion VND. On 17/07/2008, the company was transformed into a joint stock company.
In 2020, Pomina recorded 9,885 billion VND in revenue and 16 billion VND in EAT while in 2019, it had a net loss of 309 billion VND.
The flourishing business situation of Pomina Flat Steel was contributed by the blast furnace project that came into operation at the end of the fourth quarter of 2020, which brought about a reduction in cost and a corresponding increase in profit by 5% over the same period.
See more: Introduction about Pomina Flat Steel – Leading Coated Steel Manufacturer In Vietnam: https://vsssteeltrade.com/pomina-flat-steel/
10. THAI NGUYEN IRON AND STEEL CORPORATION – TISCO
Thai Nguyen Iron and Steel Joint Stock Company (TISCO) was established in 2009, formerly known as Thai Nguyen Iron and Steel Company established in 1959, is the first and only industrial park in Vietnam with a closed integrated production line from iron ore mining to the production of pig iron, billet and rolling steel.
The company’s current rolling steel production capacity is 650,000 tons/year, bringing an average annual revenue of over 8,000 billion VND.
In 2020, Tisco recorded a net revenue of 9,566 billion VND, down 8.3% compared to the revenue achieved in 2019. The financial expenses of the enterprise recorded more than 155 billion VND, decreased about 1.4 times over the same period. Selling expenses also decreased by nearly 5 billion VND. However, the cost of business administration increased by nearly 15 billion VND.
Although some costs had been reduced, with decreased revenue and increased fees, the profit after tax in 2020 of Thai Nguyen Iron and Steel still declined by more than half compared to 2019. Specifically, in 2020, the company achieved a profit after tax of 18.8 billion VND, while in 2019, this figure was more than 40.7 billion VND.
If you are looking for high-quality coated steel sheet in coils (GI, GL, PPGI, PPGL) from steel coils manufacturers in Vietnam, please send your enquiry to us at: