Hoa Phat increases steel pipe market share to over 30 percent

Hoa Phat's steel pipes (Photo: VNA)

Hanoi (VNA) - Steel manufacturer Hoa Phat Group sold over 184,000 tonnes of steelpipes in the first three months of this year, a 27 percent increase against thesame period last year and giving it the lead in market share, with 30.2percent.

Nearly 7,000tonnes of pipes were shipped to the US, Australia, and Canada during theperiod, a year-on-year rise of 31 percent. 

Sales of its steelsheets, meanwhile, neared 74,000 tonnes in the first quarter, triple the figureposted in the same period last year.

Steel pipe exportscontributed 4 percent to total sales, while shipments of coated steel sheetsaccounted for 45 percent.

Hoa Phat has todate inked deals to export products to the end of July, primarily to Europe,the US, and Mexico.

In March alone, saleof steel pipes exceeded 90,000 tonnes, growing 73 percent year-on-year, while thatof steel sheets totalled 31,000 tonnes, a four-fold increase year-on-year.

Of the figure,steel sheet exports doubled and neared 14,000 tonnes.

The combinedcapacity of Hoa Phat’s steel pipe factories around the country currently standsat 1 million tonnes a year, with steel sheet production reaching 400,000tonnes.

The steelmaker hasset a target for the year of producing 20,000 tonnes of steel pipes and about330,000 tonnes of coated steel sheets./.

VNA