VN STEEL

What VN STEEL does

VN STEEL (Tổng Công Ty Thép Việt Nam - CTCP / Vietnam Steel Corporation) is Vietnam's leading integrated steel corporation, formed in 1995 from the merger of the Metal General Corporation and the Steel General Corporation and converted to a joint-stock company in October 2011 (UPCoM ticker: TVN). Headquartered in Hanoi with a representative office in Ho Chi Minh City, the group operates 23 production units and approximately 40 subsidiaries, associate companies, and affiliated entities, employing 9,259 people and contributing roughly 1.1 trillion VND to the national budget. Its portfolio spans the full steelmaking chain — iron-ore processing, steel billet casting, hot rolling, cold rolling, and galvanized/color-coated sheet production — anchored by flagship brands Thép Miền Nam /V/ (over 40 years of heritage), TISCO, Thép Vina Kyoei, Tôn Phương Nam/SSSC, and Tôn Thăng Long, with combined annual output exceeding 4 million tonnes (construction steel over 80%, flat/coated steel approximately 20%).

The group operates a multi-channel go-to-market combining direct sales to large infrastructure and industrial customers (bridges, tunnels, metro lines, airports, hydropower, high-rises, refineries) with an authorized dealer network spanning all Vietnamese provinces and dedicated metal-trading subsidiaries (Kim Khí Hà Nội, Kim Khí TP.HCM, Kim Khí Miền Trung). Strategic joint ventures with Kyoei Steel Group (Thép Vina Kyoei), Nippon Steel (spiral welded steel pipes), and Lotte Shopping Holdings (Diamond Plaza–IBC mixed-use complex) embed Japanese process technology and a diversified real-estate income stream. Products are certified to Vietnamese TCVN, Japanese JIS, European EN, and US ASTM standards, and export channels reach Cambodia and Japan.

Revenue mechanics rest predominantly on unit pricing per tonne of construction steel (rebar, wire rod, structural sections) and flat/coated steel, supplemented by metal-trading distribution margins, port and logistics services (including a 1 million-tonne/year dedicated port at Thép Miền Nam), and rental/management income from the Diamond Plaza real-estate joint venture. Customer concentration skews toward large Vietnamese infrastructure and real-estate projects, balanced by a long-tail mid-market and dealer base. Recent operational data show Q1 2026 finished steel sales up 24.3% year-over-year (>1.21 million tonnes), May 2026 cold-rolled sales up 21.4% YoY, and 5-month 2026 cumulative sales up 9.1% YoY, alongside an active governance agenda (expanded Party Committee, 2026 AGM, divestiture of the Viet Trung Mining and Metallurgy interest).

Name

VN STEEL

Legal name

Tổng Công Ty Thép Việt Nam - CTCP

Website

https://vnsteel.vn

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

VN STEEL (Vietnam Steel Corporation) is Vietnam's leading integrated steel manufacturer, operating 23 production units and ~40 subsidiaries producing over 4 million tonnes annually of construction rebar, wire rod, and flat/coated steel for domestic infrastructure, real estate, manufacturing, and export customers.

Ownership category

akta.pro rank

Product category

Steel Manufacturing

NAICS

Rolled Steel Shape Manufacturing (331221), Steel Product Manufacturing from Purchased Steel (3312), Rolling and Drawing of Purchased Steel (33122), Plate Work and Fabricated Structural Product Manufacturing (33231), Metal Service Centers and Other Metal Merchant Wholesalers (423510)

SIC

Steel Works, Blast Furnaces & Rolling & Finishing Mills (3310), Sheet Metal Work (3444), Miscellaneous Primary Metal Products (3390), Miscellaneous Fabricated Metal Products (3490)

akta.pro primary industry

Integrated Steelmaking (BF-BOF) (IMAKABAA)

Keywords

• Construction steel products
• Galvanized steel sheets
• Integrated steel manufacturing
• Cold rolled steel coils
• Metal trading distribution

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Steel Manufacturing and Trading: VNSTEEL operates 23 manufacturing units producing construction steel (rebar, wire rod, angles, channels), flat steel products (galvanized/coated sheets, cold-rolled coils), steel billets, and mechanical products (pipes, wire mesh). Construction steel accounts for over 80% of output, with flat steel products (coated sheets and cold-rolled steel) comprising approximately 20%. Total system steel consumption of approximately 3,103 thousand tonnes reported for a recent period.
2. Metal Trading and Distribution: Distribution of steel products, steel scrap, steel billets, steel bars, steel pipes, and steel plates through a network of regional commercial companies including Kim Khí Hà Nội - VNSTEEL and Kim Khí Thành phố Hồ Chí Minh - VNSTEEL.
3. Financial Investment and Port/Logistics Services: VNSTEEL engages in financial investment; port operations and logistics services including stevedoring, warehousing, and freight forwarding; real estate investment and management of industrial zones; and overseas labor export.
4. Consulting and Research Services: Subsidiaries provide research, consulting, and human resource services across the steel industry value chain.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

VN STEEL operates an integrated steel manufacturing and distribution business in Vietnam, producing construction steel (rebar, wire rod, angles, channels), cold-rolled coils, galvanized and color-coated steel sheets, and steel billets across 23 production units and 40 subsidiary companies. The company sells branded steel products under recognized labels such as Thép Miền Nam /V/, TISCO, Thép Vina Kyoei, and SSSC – Tôn Việt Nhật to construction firms, infrastructure projects, dealers, and export markets. Auxiliary operations include metal trading (Kim Khí), port/logistics services, real estate (Diamond Plaza – IBC), and steel industry consulting.

Product overview

VN STEEL (Tổng Công Ty Thép Việt Nam - Vietnam Steel Corporation) operates as an integrated steel conglomerate following a joint-stock company model with approximately 40 affiliated units. The product portfolio centers on construction steel (thép xây dựng), which accounts for over 80% of production, and flat steel products including cold rolled steel (thép cán nguội) and galvanized/coated steel (tôn mạ) at approximately 20%. Key products and sub-brands include: Thép Miền Nam /V/ (flagship construction steel brand with over 40 years of history), TISCO (Thai Nguyen Iron and Steel producing reinforcement bars and structural steel), SSSC-Tôn Việt Nhật (Vietnam-Japan joint venture producing galvanized and color-coated steel sheets), Thép Vina Kyoei (Japanese-Vietnamese joint venture for deformed bars and structural steel), Tôn mạ VNSTEEL Thăng Long (coated steel sheets), Thép Tấm Lá Phú Mỹ-PFS (flat steel), and Vinausteel (construction steel). Additional operations include metal trading services, real estate through Diamond Plaza-IBC, and steel billet production with an annual output exceeding 4 million tonnes across 23 manufacturing units.

Differentiator

Problem solved

Functional benefit

Brands

• Thép Miền Nam /V/: A major steel brand of VNSTEEL producing reinforcement steel, steel coils, and structural steel, with over 40 years of history.
• TISCO
• SSSC - Tôn Việt Nhật
• Thép Vina Kyoei
• Diamond Plaza - IBC
• Tôn mạ VNSTEEL Thăng Long
• Thép Tấm Lá Phú Mỹ - PFS
• Vinausteel

Products and services

• Thép Miền Nam /V/ Construction Steel Flagship construction steel brand of VN STEEL with over 40 years of history, producing deformed bars (rebar), smooth round steel, equal angle steel, and steel coils. Operates an integrated smelting workshop (550,000 tonnes/year), rolling mill (450,000 tonnes/year), and a 1 million tonnes/year dedicated port. Products carry the embossed V trademark for authentication and traceability.
• TISCO Reinforcement and Structural Steel TISCO brand reinforcement steel bars (d10–d50), smooth round steel (d9–d60), wire rod coils (d6–d10), fire-resistant steel, and structural steel shapes (L-angles, C-channels) manufactured at the Thai Nguyen facility to TCVN, ASTM, and JIS standards.
• Thép Vina Kyoei Construction Steel Japanese–Vietnamese joint venture producing deformed bars (d10–d50), threaded rebar with couplers (d19–d51), smooth round steel (d14–d40), and equal angle steel (V40–V100). Manufactured under Japanese technology and management with ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications; qualified for export to Japan under JIS specifications.
• SSSC – Tôn Việt Nhật / Tôn Phương Nam Coated Steel Galvanized steel (zinc coating), aluminum-zinc alloy coated steel, color-coated steel, high-strength galvanized steel (G450), and steel decking products. Recognized Vietnam National Brand and among Vietnam's Top 500 enterprises. Exported to Cambodia and other Southeast Asian markets.
• Tôn mạ VNSTEEL Thăng Long Coated Steel Coils Color-coated and galvanized steel sheets in thickness range 0.25–1.0mm and width 600–1250mm, with tensile strength grades G270–G550. Produced to JIS G 3312, EN 10169, and ASTM A755/755M-16 standards; anti-counterfeiting markings on both edges.
• Thép Tấm Lá Phú Mỹ – PFS Flat Steel Flat steel sheets and related flat steel products for industrial and construction applications, operated as a wholly-owned subsidiary of VN STEEL.
• Vinausteel (Thép Việt Ý) Construction Steel Steel manufacturing subsidiary producing deformed bars (d10–d32) for construction applications under the Vietnam Australia Steel brand.
• Cold Rolled Steel Coils Cold rolled steel coils produced across VN STEEL manufacturing facilities, representing approximately 20% of the company's total product portfolio.
• Steel Billets (Phôi thép) Steel billets produced as intermediate products for further processing into finished steel; manufacturing capacity includes Thép Miền Nam's 550,000 tonnes/year smelting workshop.
• Steel Pipes, Steel Mesh, and Mechanical Products Steel pipes (including spiral welded steel pipes produced with Nippon Steel technology), steel mesh, and other mechanical products manufactured by VN STEEL subsidiaries for construction and industrial applications.
• Metal Trading Services (Kim Khí) Wholesale distribution of steel products, steel scrap, steel billets, steel bars, steel pipes, and steel plates through Kim Khí Hà Nội – VNSTEEL, Kim Khí Thành phố Hồ Chí Minh – VNSTEEL, and Kim Khí Miền Trung commercial subsidiaries.
• Diamond Plaza – IBC Mixed-Use Complex Premium mixed-use complex at 34 Lê Duẩn, District 1, Ho Chi Minh City, comprising a shopping mall, 14,418 sqm of Grade A office space, 39 luxury serviced apartments, an international medical center, and recreational facilities (rooftop pool, fitness center). Operated as a 50–50 joint venture with Lotte Shopping Holdings.
• Port, Logistics, and Stevedoring Services Port operations, stevedoring, warehousing, and freight forwarding services, including the dedicated port facility at the Thép Miền Nam complex with 1 million tonnes/year cargo handling capacity.

Quantifiable outcome

• Cumulative production of nearly 80 million tonnes of steel billets and finished steel products over nearly 30 years of operation
• +3 more outcomes

Named customers14 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Lotte Shopping Holdings (Singapore)coreStrategic or Co-development PartnerJoint venture operating Diamond Plaza at 34 Lê Duẩn, District 1, Ho Chi Minh City. VNSTEEL holds 50% equity and Lotte Shopping Holdings holds 50% equity. The property includes a premium shopping mall, Grade A office space (14,418 sqm), 39 luxury serviced apartments, an international medical center, and recreational facilities including rooftop pool and fitness center.
• Kyoei Steel Group (Japan)coreStrategic or Co-development PartnerThép Vina Kyoei is a joint venture between VNSTEEL and Kyoei Steel Group of Japan. The company produces construction steel products including rebar, plain round steel, threaded rebar with couplers, and equal angle steel, operating as one of Vietnam's leading steel manufacturers with Japanese technology and management standards.
• Nippon Steel Corporation (Japan)minorStrategic or Co-development PartnerCông Ty TNHH Ống Thép Hàn Xoắn Nippon Steel Việt Nam is a joint venture producing spiral welded steel pipes, leveraging Nippon Steel's advanced pipe manufacturing technology for the Vietnamese market.
• Keppel Land (Singapore)minorStrategic or Co-development PartnerSSSC - Southern Steel Sheets Company (Tôn Phương Nam) supplied steel products to the Estella premium apartment project developed by Keppel Land in Ho Chi Minh City.
• SSA Marine (United States)minorStrategic or Co-development PartnerSSIT (Saigon International Container Terminal) is a joint venture between Vietnamese entities (Vietnam National Shipping Lines and Saigon Port) and SSA Marine of the United States, operating deep-water container port facilities at Cái Mép - Thị Vải, Bà Rịa Vũng Tàu.
• Vina Kyoei Steel Exports to Japan AECminorGTM or Marketing PartnerVina Kyoei maintains commercial partnerships for steel exports to the Japanese market, adhering to stringent JIS (Japanese Industrial Standards) quality specifications for construction steel products.
• Tôn Phương Nam Export Partners (Cambodia)minorChannel Partner/ Reseller/ DistributorTôn Phương Nam was the first and only cold-rolled steel producer in Vietnam to export to Cambodia, beginning exports 22 years ago after only 7 years of commercial operation. The company maintains ongoing export relationships with Southeast Asian markets.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Hoa Sen Group: Leading Vietnamese galvanized steel and steel pipe manufacturer. Directly competes with VNSTEEL's coated steel segment (Tôn Phương Nam, VNSTEEL Thăng Long) and overlaps in downstream construction materials distribution.
• Pomina Steel: Vietnamese integrated steel producer specializing in construction steel (rebar, wire rod) and billets. Directly competes with VNSTEEL's core rebar and merchant bar product lines in the domestic market.
• Hoa Phat Group: Vietnam's largest private steel manufacturer producing construction steel, steel pipes, and hot-rolled coil. Directly competes with VNSTEEL across construction steel (rebar) and is expanding aggressively in flat steel, making it the primary domestic peer.
• Formosa Ha Tinh Steel: Major Vietnamese integrated steel producer (Formosa Plastics Group affiliate) focused on flat steel products including HRC, CRC, and galvanized coils. Direct competitor in Vietnam's flat steel segment where VNSTEEL holds ~20% of its output.
• Nam Kim Steel: Vietnamese steel pipe and galvanized steel producer. Overlaps with VNSTEEL's coated steel and pipe product lines, serving similar construction and manufacturing customers.

Broad incumbents

• POSCO: South Korean global steelmaker with leading flat steel and coated steel capabilities. Comparable to VNSTEEL's coated steel operations (Tôn Phương Nam, VNSTEEL Thăng Long) and represents a relevant galvanizing/coating technology benchmark.
• Steel Authority of India Limited (SAIL): State-owned integrated steel producer in India. Comparable to VNSTEEL as a government-majority steel conglomerate with diverse product portfolio including construction steel, structural, and rails, providing a benchmark for SOE steel operations.
• Nippon Steel Corporation: Global integrated steelmaker and JV partner to VNSTEEL via the spiral welded pipe JV. Comparable as a broad-line steel producer with technology leadership relevant to VNSTEEL's coated and pipe product lines.
• Kyoei Steel: Japanese steel manufacturer and JV partner to VNSTEEL via Thép Vina Kyoei. Comparable as a rebar and specialty steel producer; provides technology and standards reference for VNSTEEL's construction steel business.
• Tata Steel: Global integrated steel producer with construction steel and downstream operations across multiple geographies. Comparable as a broad-line steel incumbent with branded products and government-linked heritage in emerging markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@vnsteel
• LinkedInlinkedin.com/company/vietnam-steel-corporation

Compliance16 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VN STEEL