Sector Industrial Reports | [Steel Sector] - The rebound of domestic demand

[Steel Sector] - The rebound of domestic demand

15/01/2025

Summary

In general, 2024 is still a difficult year for the global steel industry, when steel consumption in key countries such as the US, China,... decreased compared to the same period. The reason comes from weak demand for civil construction and infrastructure.
The picture of the Vietnamese steel industry in 9M/2024 has the following main points: (1) Output recovers, driven by the domestic market, (2) Exports grow compared to the same period, (3) Business results of leading enterprises (HPG, HSG, NKG) improve.
Prospects for 2025: (1) Civil real estate recovers thanks to legal clearance, (2) Key infrastructure projects are promoted, (3) Export momentum from North American and European markets, (4) Trade defense policies reduce competitive pressure with imported steel.
Notable stocks: HPG, HSG, NKG.

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Sector

Steel