Market participants say this would be feasible for the province because it is rich in coal and iron ore resources.

Hoa Phat steel sales hit 457,000 tonnes in April.

These factors should lead to soaring steel demand in Q3 and Q4, Tuan said.

AISI: US raw steel production in the week ending on May 13, 2023.

Vietnam's coal output in the January-April period fell 1.9 percent from a year ago to 16.6 million tons, according to the General Statistics Office.

Finished Import Market Share YTD at 23%.

BHP is looking into initiatives to grow its iron ore production to 300 million tonnes per annum.

The head of diversified miner BHP, Mike Henry, has highlighted the massive investment required in the resources sector to meet global decarbonising efforts.