Vietnam shivers as China's steel capacity glut returns

Formosa Ha Tinh Steel considers holding off on blast furnace construction

20190621 20190621 jfe steel plant

Formosa Ha Tinh Steel is having second thoughts about building a third blast furnace at this steel plant in central Vietnam.

AZUSA KAWAKAMI and TOMOYA ONISHI, Nikkei staff writers

TOKYO/HANOI -- The U.S.-China trade war is stoking fears of another steel glut, which has Vietnam's largest steelmaker thinking about putting plans for a third blast furnace on hold.

Formosa Ha Tinh Steel, or FHS, said the trade fracas could push more inexpensive Chinese-made steel products into Vietnam, Southeast Asia's biggest steel consumer, and cause prices to tumble.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.