According to estimates made by industry analysts, the Vietnam steel industry is expected to reach VNĐ2.5 trillion (USD102 million) in the last quarter of 2023, an increase of 22%. It was also stated that this increase marked the highest level observed in the last six quarters.
Behind this positive trend lies the increase in profits of leading steel companies, especially Hòa Phát Group. The almost VNĐ 5 trillion increase in Hòa Phát Group's net profit has been a significant driver in the industry's recovery.
However, not all companies in the industry achieved the same success. For example, some companies, such as Hoa Sen and Pomina, are still struggling and experiencing significant declines in profits.
The Vietnam steel industry also paints a different picture regarding stocks. For example, many steel companies prefer to keep their inventories at low levels considering the uncertainties about the future. In particular, companies such as SMC Trading Investment JSC are experiencing significant declines in their stocks. This cautious approach can help the industry achieve a balanced growth process.
On the other hand, some companies such as Hòa Phát, Hoa Sen and Nam Kim are gradually increasing their stock reserves.
Painting a promising picture for the future, the Vietnam steel industry hopes that the recovery process will continue steadily.
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