Illustrative image (Source: VNA)
 
Hanoi (VNA) – Hoa Phat Group has announced that it churned out 179,400 tonnes of construction steel in August, 9,500 tonnes of which were for export.

Its export volume rose by 63 percent year-on-year.

In the eight months of this year, Hoa Phat manufactured 1.473 million tonnes of steel, up nearly 10 percent annually.

Consumption in the central region and Central Highlands posted the highest growth of nearly 18 percent. Meanwhile, the traditional market in the north bought over 1 million tonnes during the period, up 8.9 percent year-on-year.

Its traditional foreign markets include Australia, Cambodia, the US and Malaysia while Canada is a new one.

From January-August, Hoa Phat Group exported nearly 119,000 tonnes, mostly steel and rolled steels SAE1008, SAE1015, SWRM17.

According to the Vietnam Steel Association, sales of construction steel in August often decrease due to prolonging rains that slow the progress of construction works.

A representative from Hoa Phat said between now and the year’s end, the group will enhance production at its iron and steel complex in the northern province of Hai Duong and will soon put into an operation the first steel laminating line at its Dung Quat complex, towards increasing sales in the central and the south as well as exports.

Production at the complex in Hai Duong has risen by nearly 18,000 tonnes per month from the beginning of this year. Together with the first products at Dung Quat complex in the fourth quarter, Hoa Phat is expected to surpass its plan of selling 2.3 million tonnes this year.-VNA