Coal prices will likely fall steadily in the future, with improving coal supplies and increasing storage at power plants and ports, the NDRC said.

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This year, Tien Len Steel Group set a target of 250 billion VND in profit after tax.

Its major markets included the US, European and Southeast Asian nations.

Vietnam's leading industrial manufacturing group Hoa Phat recorded the highest ever after-tax profit in a quarter at 10.3 trillion VND (453 million USD) in the third quarter of this year.

Vietnam exported more than 5.7 million tonnes of steel products in the first nine months of 2021.