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The steel industry in Vietnam is expected to have a positive outlook for 2024, with major companies like Hoa Phat and Hoa Sen projected to experience significant recoveries, while small businesses may face challenges in finding output due to the recovery of steel prices and demand from large contractors.
The steel industry has affirmed its position by reaching the Top 12 in the world in terms of crude steel production. Not only is the production output growing rapidly, but Vietnamese steel products are also gradually becoming more diverse, according to the Vietnam Steel Association (VSA).
CapitaLand Development, the development arm of Singapore-headquartered CapitaLand Group, kicked off construction of The Orchard housing project in the southern province of Binh Duong Wednesday.
The leading steel producer contributed the majority of the steel industry’s profits in the final quarter of 2023.
In 2023, steel stock prices rose by an average of 58 per cent, outperforming the VN-Index by 46 per cent.