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Vietnam shivers as China's steel capacity glut returns

Formosa Ha Tinh Steel considers holding off on blast furnace construction

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

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.

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