Vietnamese steelmakers’ profits diverge: Hòa Phát doubles, Hoa Sen declines
Vietnam’s steel demand and exports improved in the first nine months of 2026, but major steelmakers reported mixed profits. Hòa Phát’s third-quarter net profit rose 106% year on year. VNSteel’s sharp profit increase was partly driven by a one-time stake sale, while SMC returned to profit and Hoa Sen’s net profit fell amid higher financial costs.
