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Hoa Phat steel grows 10 percent in Q1

Hoa Phat Group, a major industrial production group in Vietnam, manufactured 542,000 tonnes of steel in the first quarter of 2018, up nearly 10 percent year on year.
Hoa Phat steel grows 10 percent in Q1 ảnh 1Hoa Phat Group manufacture​s 542,000 tonnes of steel in the first quarter of 2018 (Photo:thephoaphat.org)

Hanoi (VNA) - Hoa Phat Group, a major industrialproduction group in Vietnam, manufactured 542,000 tonnes of steel in the firstquarter of 2018, up nearly 10 percent year on year.

During the period, it exported more than 73,000 tonnes ofsteel for more than 7 million USD.

In March alone, the firm sold more than 180,000 tonnes ofsteel, equivalent to last year’s figure and increasing 10 percent fromFebruary. The group shipped 11,700 tonnes of steel abroad, mainly to Australia,Southeast Asian countries, and the US.

As a result, Hoa Phat’s steel market share went up to 24percent, leading the sector in Vietnam.

By the end of March, the Australian Anti-Dumping Commission(ADC) ended its year-long investigation into alleged dumping of steel rod incoils exported to Australia from Vietnam in favour of the country after findingno evidence of foul play.

In its Terminal Report No. 416 issued on March 26, thecommission concluded that “the dumping margin for Hoa Phat, and for all otherexporters from Vietnam, is negative.”

ADC’s decision is good news for Vietnamese steel producersas Australia is a potential steel market.-VNA
VNA
#Hoa Phat Group #542 #000 tonnes of steel #first quarter of 2018 #steel market share #Australian Anti-Dumping Commission (ADC) #alleged dumping of steel rod in coils #no evidence of foul play #Vietnam News Agency #Vietnamplus
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