Hoa Phat steel grows 10 percent in Q1 hinh anh 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 industrial production group in Vietnam, manufactured 542,000 tonnes of steel in the first quarter of 2018, up nearly 10 percent year on year.

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

In March alone, the firm sold more than 180,000 tonnes of steel, equivalent to last year’s figure and increasing 10 percent from February. 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 24 percent, 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 in coils exported to Australia from Vietnam in favour of the country after finding no evidence of foul play.

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

ADC’s decision is good news for Vietnamese steel producers as Australia is a potential steel market.-VNA