Illustrative image (Source: CTV) Hanoi (VNA) – Hoa Phat Group, the nation’s largest steel producer,has announced that it churned out nearly 250,000 tonnes of construction steel inJanuary, up 27 percent year-on-year and equivalent to the record-breaking figuresof October 2018.
Of the amount, the group’s central and southern branches contributed48,800 tonnes, while the remainder came from its northern factories.
With its first production line put intooperation, the Hoa Phat Dung Quat iron and steel production complex in thecentral province of Quang Ngai manufactured 42,700 tonnes during the year’sinitial month. Its second line isscheduled to turn out products at the end of the second quarter.
Dinh Quang Hieu, head of the sales department of Hoa Phat Group, saiddistributors have been collecting steel to meet post-Tet project demands.
Throughout January, the group exported up to 34,600 tonnes of steel, mostly tothe US (12,000 tonnes) and Cambodia (11,772 tonnes), with rolled steel makingup 66.4 percent of the volume. Hoa Phat’s steel was also shipped to Japan,Indonesia, Laos, Australia, and other markets.
The group is expected to produce 3.3 million tonnes of construction steel in2019.
According to the group, it shipped 240,000tonnes of steel abroad in 2018, up 50.97 percent against the previous year.
Never before had the group received such largeorders from its traditional markets – including Japan, the US, Cambodia, andMalaysia – like it did in 2018. The strongest growth was seen in Japan, with totalsteel orders increasing 20 times to over 58,500 tonnes, followed by Cambodia ata 246 percent increase and Malaysia with a rise of 202 percent.
Cambodia was the largest customer of Hoa Phat in 2018 with nearly 70,000 tonnes,and will continue to be a market with great potential for Hoa Phat steel as theneighbouring country’s steel industry has not yet developed, while demand ishigh for the construction of high-rise buildings.–VNA
VNA
