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Accumulated in the first 11 months of the year, Hoa Phat sold 6.6 million tons of steel, down 7% over the same period last year, mainly because there were no orders to export steel billets.

The iron ore market is choosing to focus on China's efforts to stimulate the country's real estate sector.

With the forecast that the global steel demand will decrease, the demand is weaker and the oversupply is high in the domestic market, the "big man" of the steel industry Hoa Phat focuses on developing and actively producing domestically.

Iron ore futures prices rose on Monday to their highest in more than a month, as China's top steelmaker announced it would continue to tweak COVID-19 containment rules and introduce support measures. for the real estate sector is struggling in the country.

In the first 9 months of the year, Vietnam imported more than 1.05 million tons of scrap steel from the Japanese market, down 42% over the same period.

The time limit for investigation and review at the end of the period of the application of safeguard measures is not more than 6 months from the date of issuance of the decision on review. In case of necessity, it may be extended once but not exceeding 6 months.

EVS Research said that steel consumption in the third quarter went down, with 5/8 listed steel enterprises recording negative profit after tax.

Iron ore futures fell on Friday, with benchmark prices in Singapore falling below $80 a tonne and the steelmaking raw material leading to a violent sell-off in China's iron and steel complex, fueled by the gloomy outlook on global steel demand.

Aluminum is the latest victim as the economy faces multiple difficulties in a row.

Steel consumption has not shown any signs of recovery due to weak domestic demand.

China's steel industry and companies that provide raw materials such as iron ore are facing a bleak future.

According to data recently announced by the General Department of Taxation (Ministry of Finance), in the list of 1,000 largest corporate income tax payers in 2021 (V.1000), there are many enterprises in the steel industry.