AG真人游戏

The steel industry in Vietnam, along with the global steel industry, is aiming to achieve carbon neutrality by 2050. Consequently, in recent times, the Vietnamese steel industry has undergone significant innovations and remarkable developments, contributing to the country's modernization and industrialization process.From 2015 until now, the steel industry in Vietnam has made significant strides and grown substantially, positioning itself as the 13th largest producer of crude steel in the world and leading ASEAN in both steel production and consumption of finished steel products. Presently, there are over 300 enterprises across the country engaged in the production and trade of iron and steel, contributing significantly to the growth and development of the steel industry.The Deputy Chairman and Secretary-General of the Vietnam Steel Association, Mr. Dinh Quoc Thai, highlighted that the Vietnamese steel industry has been making efforts to digitize, optimize technology and efficiently utilize energy resources. Some steel enterprises have leveraged surplus heat to generate electricity, meeting most of the plant's power needs, thereby reducing adverse environmental impacts and showing promising initial results. However, the steel industry still bears responsibility for 7-9% of the total national emissions and 45% of the industrial processes identified in the national strategy on climate change. Hence, the Vietnamese steel industry needs to move towards a green growth strategy to achieve the goal of achieving carbon emissions of "0" by 2050.Currently, green development has become a global imperative to limit and eliminate the adverse impacts of climate change on socio-economic growth. The steel industry in Vietnam possesses a full range of existing technologies available worldwide, including blast furnace technology, oxygen furnace technology and electric furnace technology. Additionally, there are some other technologies like direct reduction technology; however, the adoption of this technology is currently at a modest level.Additionally, Vietnam's steel industry is actively implementing more advanced technologies and production processes to aim for greener production. This encompasses utilizing more advanced technologies to reduce emissions, recycling raw materials and optimizing production processes to minimize environmental impact. Steel manufacturers can adopt recycling technologies to reuse materials like scrap steel, reducing waste output and applying environmental protection measures throughout the production process. This not only helps reduce negative environmental impacts but also promotes sustainability and efficiency in production. Furthermore, governmental support and investments in research and technology development play a pivotal role in driving the steel industry towards greener production.This is indeed the biggest challenge facing the Vietnamese steel industry in the upcoming period, but simultaneously, it represents a significant opportunity for the steel sector to innovate, modernize, and evolve into a technologically advanced and sustainable industry.

The steel industry in Vietnam and globally is showing positive signs, forecasting a resurgence in a new cycle for the steel sector. With the increasing demand for steel, the market anticipates a significant acceleration in business outcomes next year.The general situation of the global steel industryWith the global economy continuing to decline under the strain of tightened monetary conditions impacting the world economy at large and the steel industry in particular, steel production slowdowns are evident in several key markets such as Japan, South Korea, Russia and others. While there's a prevailing trend of decline in the market, there are still discernible signs of recovery. In the first nine months of 2023, global crude steel production reached 1.4 billion tons, marking a 0.1% increase compared to the same period in 2022. This uptick serves as a bright spot, indicating a gradual resurgence in the steel industry.With its consistent dominance, accounting for over 50% of the annual global steel production, China's steel industry significantly influences the worldwide steel sector. Even steel prices within China's domestic market have a profound impact on the global steel market. Historical data also indicates that steel prices in Vietnam tend to exhibit quite similar fluctuations, sometimes responding at a slower pace compared to the fluctuations seen in Chinese steel prices.With Chinese steel prices nearly hitting their lowest levels in 2017 and showing signs of recovery in the third quarter of 2023, thanks to favorable export markets, there's an anticipation for a positive impact on the overall global steel price landscape. This also suggests a potential resurgence in demand in the largest steel markets among developed nations, including the Vietnamese steel industry.The Vietnamese steel industry is on the verge of recoveryIn Vietnam's market specifically, the steel industry anticipates a robust resurgence as the real estate market revives from 2024 onwards. Simultaneously, the government is vigorously expediting public investment disbursement on the largest scale ever seen. Most key national projects have commenced this year, indicating that the period from 2024 to 2026 will witness a dense construction phase, generating substantial demand for steel.The demand for steel has somewhat improved in the latter months of the year. In fact, several steel industry enterprises are experiencing positive business outcomes and substantial consumption. According to the financial report for Q3/2023 from Hoa Phat Group Joint Stock Company, their net profit reached approximately 2,000 billion VND, a significant improvement from the loss of 1,800 billion VND in the same period last year. The recovery in net profit is attributed to enhanced sales volume, reduced input material costs, and improved inventory management.According to assessments by multiple financial organizations, in the upcoming recovery phase of the steel industry cycle, Hoa Phat Group Joint Stock Company is expected to be the largest and first beneficiary due to its advantages in scale, dominant market share in various product segments, as well as its strong financial capacity.

The Ministry of Industry and Trade has just announced receiving information from India's Directorate General of Trade Remedies about issuing a questionnaire for the sunset review of countervailing duties on stainless steel welded pipes from China and Vietnam.The Trade Remedies Authority specifies that a sunset review is conducted just before the expiration of a 5-year period from the date of the official decision on anti-dumping duties or from the date of the review results (if the review covers both anti-dumping and damage).The tax imposition was issued by the Indian Ministry of Finance and became effective for a period of 5 years starting on September 17, 2019. The goods under review are stainless steel welded pipes falling under the HS codes: 7306 40 00, 7306 61 00, 7306 69 00, 7304 11 10, 7304 11 90, 7304 41 00, 7304 51 10, 7304 90 00, 7305 11 29, 7305 90 99, 7306 11 00, 7306 21 00, 7306 29 19, 7306 30 90, 7306 50 00, 7306 90 11, 7306 90 19, 7306 90 90. The HS codes do not limit the scope of the products under review.According to India's regulations, after 5 years of application, upon the request of the domestic manufacturing sector's representative, the Directorate General of Trade Remedies must conduct a final review to assess the necessity of continuing the anti-subsidy measures or to consider the possibility of a recurrence of subsidization practices or damage to the domestic manufacturing sector if the anti-subsidy duty on stainless steel welded pipes from Vietnam is terminated.The initiation of the sunset review investigation on the anti-subsidy tax on stainless steel welded pipes from Vietnam took place on September 30, 2023, according to the Directorate General of Trade Remedies. The official submission of the questionnaire for investigation to manufacturers, exporters and related parties occurred on November 28, 2023, by the Indian Directorate. Consequently, concerned parties have 7 days from the official date of sending the questionnaire to submit opinions on the security measures of the petition within the required file. Within 15 days from the official date of sending the questionnaire, entities need to provide input on the petition, the scope of the investigated goods, and propose product management code numbers. Furthermore, the respondents are expected to submit their responses to the investigation questionnaire and relevant information within 30 days from the official date the Directorate General of Trade Remedies sent out the questionnaire.The period for conducting the review on the anti-subsidy duty on stainless steel welded pipes from Vietnam spans from April 1, 2022, to March 31, 2023. Regarding the content related to damages, the investigation period will additionally cover the three most recent financial years: 2019-2020, 2020-2021, and 2021-2022.The Bureau of Trade Remedies recommends that relevant exporters thoroughly study all related documents and information regarding the case. Full and comprehensive cooperation with the Indian Directorate General of Trade Remedies is advised. Register as an involved party, respond to the questionnaire within the specified timeframe and format and maintain regular contact with the Bureau of Trade Remedies to receive timely information and support.

2023 has proven to be a challenging year for the steel industry as many steel companies continue to struggle with losses, further exacerbated by the recent electricity price hikes. Estimates suggest a 4.5% increase in electricity costs, resulting in additional cost of goods sold, potentially leading to a 23% decline in the industry's profit before tax.The steel industry is experiencing consecutive periods of suffered lossesSeveral steel enterprises in Vietnam have been consistently operating at a loss in 2023. Recently, SMC Trading Investment Corporation reported its business results for the third quarter of 2023, with a revenue of 3,141 billion VND and a net loss of 164 billion VND. Cumulatively for the first nine months of the year, the revenue reached 10,574 billion VND, marking a 44% decrease compared to the same period last year and a loss of 549 billion VND.One of the pioneering steel enterprises in the Vietnam steel industry, Vietnam Steel Corporation (VNSteel), recently released its consolidated financial report for the third quarter of 2023, achieving a net revenue of 7,947 billion VND with a loss after tax of 172 billion VND. Accumulated over the first nine months of the year, VNSteel's net revenue reached 23.027 billion VND, a 24% decrease compared to the same period last year. The loss before tax was recorded at over 431 billion VND, whereas in the corresponding period last year, it was nearly 383 billion VND.Thai Nguyen Iron and Steel Joint Stock Corporation (TISCO) recently released its business results for the third quarter of 2023, reporting a revenue of 2,414 billion VND, a 25% increase compared to the second quarter of 2023. However, due to high production costs, the company still incurred a profit before tax of 57 billion VND. Overall, during the first nine months of the year, the enterprise achieved revenue of nearly 6,790 billion VND but recorded a loss before tax of 193 billion VND.In general, except for major players, most steel mills in the Vietnam steel industry have reported losses. The primary reason behind this is the weakened purchasing power due to the sluggish real estate and construction markets.An electricity price hike could potentially reduce steel industry profitsThe Vietnam Electricity Group recently raised the average retail electricity price to 2,006.79 VND/kWh (excluding VAT), marking a 4.5% increase from the previous rate of 1,920.3732, or an additional 86.41 VND/kWh effective November 9, 2023. With two price hikes this year, Vietnam Electricity Group has collectively increased the price by 142.35 VND/kWh. This increase in the cost of production inputs, such as electricity, could significantly impact the steel industry. Elevated electricity prices translate to heightened production costs, exerting substantial pressure on the profit margins of steel companies.Typically, electricity costs represent around 9-10% of the cost of goods sold for steel manufacturing companies. With a projected 4.5% increase in electricity costs leading to a rise in product costs, the overall profit before tax of the steel industry could potentially decrease by 23%. This significant decline in profits due to the additional electricity expenses noticeably affects the operational efficiency of businesses. However, if companies manage to offset the increased electricity costs by raising prices for consumers, it could potentially mitigate the impact of the rising input costs.Looking at the bigger picture, Vietnam Electricity Group's increase in retail electricity prices will lead to higher production costs for steel manufacturing enterprises, thereby reducing their profits. This might have a certain impact on the operational activities of these individual enterprises as well as the steel industry as a whole.

After a thorough investigation, the US Department of Commerce has concluded that steel pipe products imported from Vietnam did not evade the anti-dumping and countervailing duties that the US applies to similar goods from Taiwan.It's known that on August 4, 2022, the US Department of Commerce issued a notice to initiate an investigation into the circumvention of trade defense duties on certain steel pipe products. Primarily, products falling under HS codes 7306.61 and 7306.30 were imported from Vietnam, with allegations that Vietnam imported the main raw material for producing the steel pipe hot-rolled coil from China, Taiwan, South Korea, and India, then performed simple processing to manufacture the steel pipes, which were subsequently exported to the US. This process was purportedly aimed at evading the corresponding anti-dumping and countervailing duties that the US applies to these countries and territories.This investigation was conducted following suspicions that goods from Vietnam were being sold at lower prices to evade anti-dumping and subsidy tariffs. The investigation focused on determining whether these steel pipe products were manufactured at lower costs due to non-transparent subsidies.After conducting an investigation and gathering information from relevant parties, the United States recently reached a significant conclusion regarding the anti-avoidance duty investigation related to the import of steel pipes from Vietnam. According to the announcement from the US Department of Commerce, following a thorough investigation, it was concluded that steel products imported from Vietnam did not evade the anti-dumping and countervailing duties that the US applies to similar items from Taiwan. This determination was based on Vietnam not using hot-rolled coil steel from Taiwan to manufacture the steel pipes.For other steel pipe products also under investigation for anti-avoidance measures (initiated on July 29, 2022), on July 20, 2023, the US Department of Commerce announced an extension of the deadline for issuing the final determination until November 2, 2023. Recently, on November 9, the US Department of Commerce published the final determination on the case. In this final determination, the US Department of Commerce maintained the same conclusion as the preliminary finding issued in April 2023.However, the Ministry of Industry and Trade noted that the US Department of Commerce continues to allow Vietnamese exporters (except for companies determined by the US Department of Commerce to not fully cooperate during the investigation) to participate in the mechanism of self-certification, confirming that they do not use hot-rolled coil steel originating from China, Taiwan, South Korea or India to be exempt from measures.In fact, the US investigation into anti-avoidance duties isn't just a message about fair trade management, it's also evidence of the tension within international trade relations, particularly amidst escalating trade tensions between nations. This also presents new challenges and opportunities for steel pipe manufacturing enterprises in Vietnam to adjust their business strategies, enhance fair competition advocacy, and comply with international trade regulations.Given these developments, understanding and adhering to international regulations, as well as fostering a fair competitive environment, have become crucial factors for businesses to thrive and adapt in an increasingly volatile international market.

According to statistics from the General Department of Customs, Vietnam's iron and steel exports of all kinds in October 2023 reached 908,142 tons, an increase of 5% compared to September and a sharp increase of 71.5% compared to the same period in 2022. Vietnam is aggressively penetrating major markets like the United States, India, Italy, Singapore,鈥� offering extremely competitive prices.1. Vietnamese steel export situation 10M/2023According to the General Department of Customs, accumulated in the first 10 months of 2023, Vietnam's iron and steel export output of all kinds reached over 9.1 million tons, equivalent to 6.95 billion USD, up 30.7% in volume and up 0.1% in value compared to the same period last year. The average export price of 10M/2023 reached 760 USD/ton, down 23.4% over the same period last year.By the end of October 2023, the 10 largest Vietnamese steel import markets were Italy accounting for 14.8%, Cambodia (9.9%), the United States ( 9.1%), India (8%), Malaysia (7.2%), Indonesia (6%), Belgium (5.4%), Spain (3.9%), Taiwan (3.4%) and Thailand (3.1%).2. Bright spots in Vietnam's steel exports2.1. Southeast Asia regionSoutheast Asia is still the main export market of Vietnam's steel industry, accounting for 31.5% of the proportion. However, in the first 10 months of 2023, exports to this market decreased slightly by 2.6% compared to the same period in 2022, mainly due to down 13% in exports to the largest market, Cambodia. In contrast, exports to markets like Malaysia, Indonesia, Thailand and Singapore still increased compared to the same period last year.2.2 EU marketThe highlight in the steel export situation in the first 10 months of 2023 is the EU market has positive growth rates compared to the same period in 2022. Specifically, Italy imported the most steel from Vietnam with over 1.35 million tons, an increase of 128%, followed by Belgium with 0.49 million tons, an increase of 30% and Spain imported 0.35 million tons, an increase of 70.2%.According to the European Steel Association (EUROFER), Vietnam accounted for 8.1% of the total amount of finished steel products imported into Europe by the end of August 2023. Another positive signal for Vietnam's steel industry is that Europe's imports of finished steel products from Turkey, China and India decreased sharply (-59%, -11% and -3% respectively) while imports from Vietnam increased by 15%.2.3. Indian marketNotably, steel exports of all kinds to India in October reached 198,418 tons, worth 139.6 million USD, an increase of 2,346% in volume and an increase of 1,103% in turnover compared to October 2022. This is also the month recording the highest export output since the beginning of 2023.In the first 10 months of 2023, India has become Vietnam's 4th largest steel export market with a total output of over 0.73 million tons, a value of over 539.7 million USD, an increase of nearly 16 times in volume and an increase of 7.8 times in value compared to the same period in 2022. The main export items were hot-rolled steel coils and galvanized steel sheets, of which HRC is a new product that India has not imported from Vietnam in the 2021/2022 financial year.2.4. Cambodian marketCambodia, Vietnam's largest steel export market in 2022, dropped to second place in 2023 due to a decrease in both output and export turnover. As of October 2023, Vietnam's iron and steel export turnover to Cambodia reached 612.7 million USD, down 26% over the same period last year; Exported iron and steel output reached over 0.9 million tons, down 13% over the same period. The main export product to Cambodia is mainly construction steel. According to exporters, the amount of construction steel exported to Cambodia decreased partly due to the impact of the COVID-19 pandemic on the real estate market.Vietnam's steel exports have many signs of recovery and positive development in the fourth quarter and early 2024. Many importers from major markets such as the US, EU, UK and India pay a lot of attention to cheap, quality steel from Vietnam. However, in the context of many fluctuations in the world's economic and political situation, the Vietnamese and global steel industry can still experience many sudden changes. You can follow AG真人游戏 Steel to update the latest steel market information!

The steel market in Mexico has witnessed a significant increase, especially in September, with consumption rising by 21.8%. These positive figures not only signal economic recovery but also pose promising prospects for the steel industry in the country.Mexico with impressive growth in SeptemberAccording to the latest report, steel consumption in Mexico increased by 21.8% in September compared to the same period last year, reaching 2.72 million tons. This notable figure boosts confidence within the steel industry, signaling a strong potential for recovery in the near future.In addition to the increased steel consumption, the production of finished steel has also defied the negative trend in steel production over the past 6 months, particularly in September. Mexico produced 1.6 million tons of finished steel, marking a 2.9% increase compared to the same period last year.In general, during the first 9 months of the year, the steel industry in Mexico produced 14.48 million tons, a decrease of 12.3% compared to the same period last year. Meanwhile, the consumption of finished steel nearly doubled, reaching 21.48 million tons, a 14.4% increase compared to the same period last year.The significant increase in steel consumption is a positive signal for the steel industry in Mexico. It not only provides favorable conditions for domestic steel producers but also opens up opportunities for exports and international cooperation. The rapid recovery of the steel market is an integral part of Mexico's overall economic recovery.With impressive growth in steel consumption in September, Mexico is entering a phase of robust recovery. Increased demand and supportive economic strategies play a crucial role in driving the development of the steel industry, creating positive prospects for the future.Dynamics boosting steel industry growthA number of crucial factors have contributed to the significant growth of the steel industry in Mexico. One of the most important factors is the economic recovery following the negative impacts of the recession caused by the pandemic. The strong performance of industries, especially construction and manufacturing, has generated high demand for construction materials, including steel.Additionally, in conjunction with Mexico's economic recovery strategy, the government's supportive measures and incentives for investment have also positively influenced the growth of the steel industry. These measures not only provide impetus for new construction projects but also boost consumer industries, enhancing demand for processed steel products.Prospects for the Vietnamese steel industry as the Mexican market growsThe steel industry in Mexico has experienced strong growth, but the production volume has significantly declined, leading Mexico to import steel from other countries to ensure an uninterrupted supply. Mexico is one of the major steel export markets for Vietnam. With the substantial growth in steel consumption in this market, it has opened up opportunities for the Vietnamese steel industry to develop and expand its presence.Enhancing the export of steel products from Vietnam to the Mexican market could elevate the value of Vietnamese steel on the global steel map. Moreover, it is likely to boost sales figures and contribute to foreign currency earnings for Vietnamese steel enterprises.When entering the steel market in Mexico, competing with global rivals is a necessity. Mexico's market is challenging, and to establish a solid presence, Vietnamese enterprises must adhere to export regulations and product quality standards. Ensuring that products meet international standards can instill confidence from customers. This is also an opportunity for the Vietnamese steel industry to improve product quality, reduce production costs, and enhance competitiveness to capture the potential in this market.

According to the General Department of Customs, in September 2023, Vietnam imported 1.4 million tons of iron and steel worth 996 million USD, an increase of 9.1% in volume and 6.3% in value compared to August 2023. Steel exports showed a slight decrease, reaching 864,424 tons with a value of nearly 611 million USD, down 12.5% in volume and 13.5% in value compared to August 2023. However, compared to the same period last year, it still increased 63.3% in volume and 43.6% in value.1. Steel consumption situation in September 2023According to the Vietnam Steel Association (VSA), construction steel sales volume was recorded at its highest level in the first 9 months of 2023 with more than 958,000 tons, up 9% compared to August and up 4% over the same period in 2022.Also in September 2023, construction steel production output reached 876,043 tons, down 6% compared to August 2023 and 20% compared to the same period last year. In the first 9 months of 2023, Vietnam's construction steel output reached 7,722 million tons, down 21.6% over the same period in 2022; Consumption output reached 7,738 million tons, down 20% over the same period in 2022. Of which, construction steel exports reach 344,766 tons, down 12.9% over the same period in 2022.2. Steel import situation in September 2023In September 2023, Vietnam imported 1.4 million tons of iron and steel with a value of 996 million USD. Compared to the same period last year, the volume and value increased by 89% and 40%, respectively. Accumulated in the first 9 months of 2023, Vietnam imported 9.33 million tons of iron and steel worth 7.53 billion USD, up 4.4% in volume but down 21.3% in value compared to the same period last year.In the first 9 months of 2023, Vietnam imported 5.5 million iron and steel from China with a trade turnover of 3.88 billion USD, up 38% in volume but down 4.1% in value compared to the same period last year. The second largest steel import market is Japan with 1.46 million tons and a trade turnover of 1.11 billion USD, up 5.8% in volume and down 19.4% in value over the same period last year.3. Steel export situation in September 2023According to statistics from the General Department of Customs, Vietnamese steel export in September reached the lowest level in the past 7 months, reaching 864,424 tons with a value of nearly 611 million USD, down 12.5% in volume and 13.5% in value compared to August 2023.In September, iron and steel exports to markets such as the EU, the United States and Southeast Asia (Cambodia, Indonesia, Malaysia) decreased. In contrast, exporting to India increased by 193.1% in volume and 147.9% in value, while Turkey increased 303 times in volume and 52 times in value.Accumulated in the first 9 months of 2023, iron and steel exports reached more than 8.23 million tons worth nearly 6.3 billion USD, up 24.7% in volume but down 3.3% in value compared to the same period last year.Regarding the market, Vietnamese steel exports to Singapore experienced a remarkable surge with the strongest increase among all types of exported goods. Specifically, the amount of iron and steel exported to Singapore in September reached 63,535 tons, an increase of 19,329% in volume.Regarding HRC, in the first 9 months of 2023, Italy was Vietnam's main export market with 840,434 tons, followed by India with 386,841 tons.4. Vietnam steel exports: Positive signs of recoverySteel exports have had many notable changes. In the first 5 months of 2023, China imported a large amount of Vietnamese billet with 570,000 tons, an estimated increase of 763% in volume and 585% in value. Contributing to export growth is Hoa Phat with the export of more than 1 million tons of  billet from the beginning of the year until now. Formosa Ha Tinh Steel Joint Stock Company also exported more than 1 million tons of steel products in the first 9 months of 2023 to the Chinese market.In addition to the growth from the Chinese market, the Ministry of Industry and Trade also appreciates opportunities for international economic integration and cooperation. Thanks to the implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Vietnam-EU Free Trade Agreement (EVFTA), Vietnam enjoys many preferential duty rates, contributing to boosting exports to new markets.Vietnam's iron and steel industry recorded many positive increases in production and consumption in the first 9 months of 2023. Vietnam continues to be an important steel import market for many countries such as the United States, EU, Belgium, Italy, India, Mexico, Southeast Asia,... Don't forget to follow and read more articles updating the situation of the steel industry in Vietnam and the world at AG真人游戏 Steel!

In recent years, Vietnam has promoted the use of clean energy sources in steel production in order to develop an eco-friendly economy. Therefore, the steel scrap has long been applied in production by many domestic manufacturers. The role and applications in the recycling process of scrap steel have brought positive effects to the environment, contributing an important position to the trend of sustainable development and production.The role of scrap steel in the trend of using renewable energyScrap steel is the term used to describe products that have reached the end of their life cycle and they are not usable for longer. The name "scrap" will make many people think that they are discarded items, in fact they are a valuable source of raw materials for the steel production process at factories.Scrap steel is considered an essential source in the trend of green production because they will not cause any pollution risks to the environment. Compared with the method of producing steel from iron ore, scrap steel plays a major role in reducing emissions from factories when 1 ton of scrap steel can reduce 1.5 tons of CO2, 1.4 tons of iron ore and 740 kg of coal.They come from a variety of sources, some from steel mills, where shipments are damaged or some failed products because they don't have any value to the transaction. Others can appear in the wreckage of used cars, old boats or from the structure of buildings.Process of recycling from scrap steelScrap steel is an iron containing metal with the rate of iron is 97% and thanks to this high percentage, many manufacturers have processed and melted them to create new types of steel products. The process of recycling steel often goes through many complicated stages to ensure the quality of the output steel products.Step 1: Collecting all types of scrapsThe first step in recycling steel from scrap is to collect all types of scrap and gather them at a certain location. Scrap sources are often present around people's daily life like an old table or chair, refrigerator, bicycle can also be considered a valuable source of  materials in steel production.Step 2: Conduct sorting scraps into specific groupsAfter gathering all the scraps in one place, the handler will use a magnet to draw iron and magnetic devices from the general mix. Scrap steel will be divided into 3 categories including metal scrap that is discarded at the factory or previous workshops, the type of scrap is waste generated in the steel production process, and final scrap comes from household items.Normally, scraps that have sources from factories can be directly put into the recycling process without having to go through any cleaning steps. Meanwhile, scrap steel from household items will be treated to remove other impurities to achieve the required cleanliness. The cleanliness must meet the criterias such as no dirt, non-ferrous metals, steel is not rust and excessive corrosion.Step 3: Crush and shred the scrapsIn order to make it more convenient for scrap smelting, the manufacturer will perform the crushing and shredding step with specialized machines including cutters, flatteners and crushers. The smaller the scraps, the faster the heating and melting process will be promoted.Step 4: Heat up scrapsBased on the properties of each type of scrap steel, the manufacturer will put them in different furnaces. The average temperature of a furnace can be up to 3000 degrees Celsius, this is the ideal temperature enough to evaporate the zinc and aluminum components contained in the previous steel.The furnaces are often equipped with a liquid stirrer to assist in maintaining the temperature in the heating process as well as controlling the consensus of the liquid. The heating process will take place for several hours depending on the amount of scrap steel poured in.Step 5: Filter the residueSedimentation is a necessary stage that helps to remove excess impurities present in the steel to ensure that the final steel product obtains high quality and does not appear to have any contaminants. Some common methods of filtration include using electrolysis to extract impurities from steel, another way to remove impurities from metal can be mentioned as running a magnet over a molten metal solution.Step 6: Carry out the solidification methodAfter the steel solution has been purified to remove excess substances, the manufacturer will now move them on conveyors to cool and solidify the metal. Also in this stage, steel will be formed into billet bars or flat steel.Finding the scrap steel collector for your recycling projectTheoretically, scrap steel brings positive aspects to businesses, in fact, scrap steel sources are considered to be rare. This scarcity comes from the average lifespan of a steel product is up to tens or even 100 years. This means that these sources are not always available at all times while the demand for steel is increasing day by day.In recent years, Vietnam has been the destination of millions of tons of scrap steel when the domestic market often buys and imports foreign scrap steel sources. In addition, China's policy about banning imported scrap steel has unintentionally caused scrap sources to rush into Vietnam more than ever. In the face of the scarcity of scrap steel in many places in the world, choosing reputable scrap steel collectors in Vietnam will be the right direction for your production projects.If you are in need of finding and purchasing scrap steel sources, AG真人游戏 Steel is ready to be present and accompany you. We are not a small unit specializing in scrap collection but a business specializing in providing reputable steel solutions in the market, we are able to bring you quality scrap steel at an affordable price. Contact us immediately via Whatsapp:+84 76 911 2358 or email [email protected] for detailed advice. 

In recent times, the Pomina Steel Corporation project has garnered the attention of many people with an impressive net loss figure of 648 billion dong. This is one of the significant investment projects in the steel manufacturing industry in Vietnam, and it has experienced some important fluctuations.Pomina Steel Corporation continues to incur losses in the third quarter of 2023Previously, Pomina was the largest steel producer in Vietnam, holding a 17% market share, while Hoa Phat accounted for only 12%. However, with its strategic vision, along with low sales revenue in the challenging economic environment and high cost of goods sold, Pomina Steel Corporation lost market share to domestic competitors like Hoa Phat, Hoa Sen and others.In 2023, Pomina Steel Corporation set a revenue target of 9,000 billion dong and a post-tax profit of a loss of 150 billion dong. However, the company continued to incur losses in the first three quarters of the year, surpassing the set target.Recently, Pomina Steel Corporation has released its financial report for the third quarter of 2023, which showed a consolidated net revenue decrease of over 83% compared to the same period last year, down to 503 billion dong due to reduced sales volume and lower selling prices. The company continued to operate with a cost higher than revenue, resulting in a gross loss of 5.2 billion dong compared to a gross loss of 578 billion dong in the same period. As a result, in the first nine months of 2023, Pomina Steel Corporation recorded a total revenue of 2,948 billion dong, a 74% decrease compared to the same period last year, and a post-tax loss of 647 billion dong, while it incurred a loss of 707.5 billion dong in the same period of the previous year. Consequently, just within the first nine months of 2023, the losses reported by Pomina Steel Corporation significantly exceeded the initial plan.Not only is Pomina Steel Corporation running at a loss, but its financial situation is also alarming. The company has reported negative operating cash flow of 253 billion dong compared to the same period last year. Additionally, the company has made investments of 5.19 billion dong and reported a financial cash flow of 56 billion dong. The company has also used short-term capital amounting to 4,199 billion dong to finance its long-term assets. The reasons leading to Pomina's loss of 648 billion dongThe net loss of 648 billion dong has been surprising and contentious. There are several reasons that have led to this situation:Fierce competitionThe steel product market has had to deal with fierce competition, particularly from imported steel products, especially those from countries like China. This competition has exerted pressure on both prices and profits for Pomina Steel Corporation.Increased raw material pricesThe prices of steel production raw materials, such as iron ore and coke, have risen significantly, affecting the cost of steel products.Real estateThe stagnant real estate market, along with a sharp drop in steel consumption and revenue during the period, has led to a significant decrease in Pomina Steel Corporation revenue. This, coupled with high fixed costs and interest expenses, has resulted in substantial losses in the past quarter.Additionally, the shutdown of the Pomina 3 steel plant has incurred various costs, including interest expenses. It is expected that this steel refining plant will resume operations in the early fourth quarter of 2023, immediately after a private equity issuance to investors.With Pomina Steel Corporation net loss of 648 billion dong, it presents a significant challenge, but it also provides an opportunity for the corporation to refine and grow. Currently, Pomina remains one of Vietnam's leading construction steel manufacturers. If you are interested in purchasing Pomina's construction steel products, please feel free to contact us HERE.