At present, there are about 30 large steel companies and more than 100 small and medium-sized steel enterprises in Vietnam. Since last year, Vietnam’s steel production has faced many difficulties. Internationally, the prices of iron ore, coke, steel billet and scrap iron in the international market have risen, with a year-on-year increase of 20-30%, and the production costs of enterprises have increased. On the domestic front, the government has tightened its monetary policy, reduced public investment, and controlled investment in real estate. Steel demand has fallen sharply. As of July this year, the inventory of steel billets in the whole industry reached 590,000 tons. Many enterprises were forced to cut production or even stop production, and about 20% of enterprises were facing bankruptcy.
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