Giant steel maker Hoa Phat Group (HPG) recorded a net loss of more than VND 2 trillion (USD 85.3 million) in the fourth quarter,

The 2022 fourth-quarter financial statements show heavy losses for Hoa Phat, Hoa Sen, Nam Kim, VNSteel, and Tisco.

VNDirect expects that the gross profit margin of steel companies will soon recover when most of the high-priced inventory has been recorded