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FHS continues its successful progress in the challenging steel market of 2023

In the backdrop of a sluggish global steel market in 2023, and amid persistent threats posed by imported materials, particularly from China, Vietnam's leading blast furnace mill, Formosa Ha Tinh Steel (FHS), has demonstrated remarkable resilience.

FHS continues its successful progress in the challenging steel market of 2023

FHS not only continued to fulfill orders after mid-September but even managed to surpass the order volume achieved in August.

FHS attributes its remarkable success in navigating these challenging market conditions to a combination of strategic factors. Firstly, downstream customers have maintained lean inventories, driving a continuous need for raw material replenishment. Secondly, FHS has maintained a competitive pricing strategy, ensuring affordability even in the face of market uncertainty. Lastly, the depreciation of the Vietnamese Dong has provided a boost to local steel mills, further enhancing FHS's ability to meet demand and remain competitive in the global steel landscape.

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