Toanthang Steel Trading Company Limited (Vietnam)

Over 30 years of establishment and development, Toanthang Steel Trading Company Limited is now a distributor of steel pile, construction steel, steel plate, structural steel shape, steel angle, steel coil for large domestic steel manufacturers such as Posco Yamato Vina, Formosa, Hoa Phat, Pomina, Vina One… and abroad ones such as Hyundai, Nippon, Tata, Acelor Mittal, Sys. Besides, it also processes steel plates based on customers' request through the operation of its wholly-owned subsidiary Toan Thang Steel - La Joint Stock Company.According to the subject's admin staff, after recovering in 2021, its 2022 revenue went down again because of the bank's credit tightening policy and the negative effects of the post-Covid economic recession. In fact, recently, with positive developments in consumption increasing again in the last month of 2023, many forecast that the steel industry can recover positively in 2024, thereby helping the steel industry increase strongly profit margin.In the early days of January 2024, the domestic construction steel market had its first price adjustment when manufacturers simultaneously increased the selling price of rolled steel and rebar steel bars of all kinds with a common increase of VND 200 thousand/ton.According to the Vietnam Steel Association (VSA, steel consumption in 2024 is expected to increase by 6.4% to nearly 21.6 million tons. Of which, exports of finished and semi-finished steel products will go up by 12% to nearly 13 million tons. This target is based on the expectation that Vietnam's GDP will grow by 6%-6.5% this year.The strong recovery of the steel industry is established in the context of the negative impact of the macro economy and the "freezing" of the real estate market in 2023. By 2024, the steel industry is forecast to have long steps of growth, leading to the recovery of profits of businesses in the industry.