The third quarter financial reports from various steel companies showed a clear divergence. While some producers like Hoa Phat Group and Thong Nhat Flat Steel JSC witnessed profit resurgence, others faced ongoing losses.

Prime Minister Pham Minh Chinh on July 31 inspected the progress of the second phase of the Thai Nguyen Iron and Steel Plant extension project (TISCO 2) in the northern province of Thai Nguyen on July 31.

After increasing inventories at the beginning of 2021 to take advantage of price differences to maximise profits, the strategy has now hit steel producers hard as global steel prices plunged at the end of the year.

The High-level People’s Court in Hanoi on November 11 decided to reduce prison terms for three defendants that were involved in a case related to wrongdoings at Thai Nguyen Iron and Steel JSC (TISCO).

The Hanoi People’s Court on April 20 recommended investigating possible violations of the Ministry of Industry and Trade (MoIT) and considering the launch of criminal proceedings against several officials of the ministry involved in a case related to wrongdoings at Thai Nguyen Iron and Steel JSC (TISCO) (if sufficient ground is found). ​

Nineteen former executives and officials of the Thai Nguyen Iron and Steel JSC (TISCO) and the Vietnam Steel Corporation (VNS) were brought to trial in Hanoi on April 12 for their involvement in wrongdoings at TISCO.