[SMM Hot-Rolled Coil Daily Trading] Spot Cargo Trading Weakened Again

[SMM Steel] Hoa Sen Group announced that a fire broke out at the acid regeneration line tower section of its Hoa Sen Phu My Steel Sheet Plant on May 25 at around 10:00 PM. The fire was fully extinguished by 10:45 PM through coordination between the company’s on-site firefighting team and local fire authorities. The company said there were no casualties or damage to goods, while machinery damage was limited and fully covered by insurance. Hoa Sen added that the affected acid regeneration line is an auxiliary facility separated from main production areas, and all other production lines continue operating normally without any impact on the group’s business operations.

[SMM Steel] Vietnam officially became the world’s 10th largest crude steel producer after April 2026 output reached 2.1 million mt, up 4% y-o-y, according to worldsteel data. January-April crude steel production totaled 8.5 million mt, rising 8.4% y-o-y. Market participants said the growth reflected Vietnam’s rapid expansion in integrated steelmaking capacity and increasing production of higher-value steel products. Hoa Phat remained the country’s largest producer, contributing around 11 million mt in 2025 and targeting over 14 million mt of crude steel output in 2026.