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At Hoà Phát’s annual shareholders meeting on 21 April, Chairman Tran Dinh Long addressed questions on product strategy, the steel cycle, and competitive pressures—topics closely watched by shareholders.
On rail steel output, Long said the company is not relying on a single product. Rail is a core part of the new strategy, but total planned output is about 200,000 tonnes. The remainder, around 500,000 tonnes, will come from steel shapes and angles, which the chairman described as products with steadier demand.
Long said: “If we cannot sell rail, we will still produce steel shapes and angles. Hoà Phát's policy is to diversify.”
Long also disclosed plans to have rail steel by Q2 2027. He noted that Vietnam currently has no company producing rail steel for high-speed rail. Globally, only a few large producers make this type of steel, including Voestalpine (Austria), JFE (Japan), Baosteel (China), and JWS Steel (Italy). In Southeast Asia, Hoà Phát would be the only producer of this product, according to the chairman.
Shareholders also asked about competition from Chinese steel. Long said the issue has been raised repeatedly and that Hoà Phát has become accustomed to it.
He said: “Every year shareholders ask about China. We will live with it. We lost the nerve to fear it long ago.”
Long added that in an era of deeper integration, competition is inevitable both domestically and internationally. He said the company should avoid complacency while also not being overly concerned.
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