[SMM Ningbo HRC Inventory] August 12 Ningbo HRC Inventory Report

Sacombank has announced a 2% annual interest-rate reduction for new and existing import-export customers from August 13 to December 31, 2026, shortly after the Prime Minister’s meeting with the State Bank of Vietnam (SBV) and the country’s credit institution system on the same morning. The preferential package, backed by a nearly VND 100 trillion portfolio, aims to support import-export businesses, including steel importers and exporters, by reducing financing costs and promoting trade activities. Sacombank is also offering preferential loans at 8.5%-9%/year to priority sectors, business households and FDI enterprises.

Hoa Phat Group has started construction of a VND 2,450 billion steel rolling mill in Long An, now part of Tay Ninh, with a designed capacity of 700,000 tonnes/year, including 679,000 tonnes of construction steel and 21,000 tonnes of billets. The project is scheduled for commissioning in H2 2027 and commercial operation from early 2028, with capacity equivalent to around 19% of southern Vietnam’s construction steel consumption in 2025. Unlike Hoa Phat’s Dung Quat complex, the plant will use electric furnace technology based on scrap steel, with around 80% of its estimated 780,000 tonnes/year scrap requirement expected to be imported. Located near the Vam Co River and a waterway port, the facility is designed to support efficient scrap imports and strengthen Hoa Phat’s supply position in southern Vietnam.