Tay Nam Steel Manufacturing & Trading Co., Ltd (Vietnam)

The subject - Tay Nam Steel gets involved in manufacturing and trading types of steel (such as galvanized steel sheet, pre-painted galvanized steel sheet, cold sheet, and galvanized pipe…). Its products meet foreign quality standards like ASTM (USA), BS (UK), JIS (Japan), along with TCVN (Vietnam). In the past, Tay Nam Steel and its related company - Vina One Steel Manufacturing Corporation were investigated for anti-dumping in Australia.From the end of 2022 until now, most Vietnamese steel industry enterprises have faced many difficulties and challenges due to the frozen real estate market and stagnant construction projects, causing construction steel products to fail. Due to a lack of output, steel prices have decreased 19 times in a row. In the recently published report of the Vietnam Steel Association (VSA), in September 2023, steel consumption output of member enterprises recorded the highest level since the beginning of the year, reaching nearly 2.2 million tons, up 4.7% over August and up 9.4% over the same period last year. Of which, construction steel consumption reached nearly 1 million tons, up 9% and 4% respectively. In the first 9 months of 2023, finished steel sales of VSA member enterprises reached nearly 19 million tons, down 10.8%; of which nearly 6 million tons were exported, up 22.6% over the same period last year. Previously, for the whole year of 2022, finished steel consumption reached 27.3 million tons, down 7.2% compared to 2021. In fact, steel prices have been at a low level for many years. In the coming time, with signs of improvement when public investment projects are being implemented simultaneously, the market is likely to gradually recover, but it is very difficult to predict the extent of recovery. However, up to now, steel industry enterprises should not be too optimistic because market demand for domestic steel products in general is still weak and has not improved much.