Steel sector earnings forecast: Domestic market to lead growth in Q2/2025
Posted: Jun 20, 2025
- In Q2/25: The domestic market becomes the growth driver as consumption volume is expected to increase by 22% YoY with contributions from both construction steel and HRC.
- Meanwhile, export activities are less positive as key export markets such as the EU and the US have imposed tariffs on steel from Vietnam.
- We expect companies with high proportion of domestic consumption such as HPG and HSG to record net profit growth of 19% and 3% YoY. Export companies such as NKG, GDA may record net profit decrease by 32% and 65% YoY.
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