The plan showed Vietnam would double its power generation capacity to more than 150 gigawatts by 2030 from 69 gigawatts at the end of 2020.

These factors should lead to soaring steel demand in Q3 and Q4, Tuan said.

Vietnam's coal output in the January-April period fell 1.9 percent from a year ago to 16.6 million tons, according to the General Statistics Office.

AISI: US raw steel production in the week ending on May 13, 2023.

Market participants say this would be feasible for the province because it is rich in coal and iron ore resources.

Finished Import Market Share YTD at 23%.

Hoa Phat steel sales hit 457,000 tonnes in April.

BHP is looking into initiatives to grow its iron ore production to 300 million tonnes per annum.