Hoa Phat’s steel exports to Australia surges following ADC’s decision
The Hoa Phat Group is scheduled to ship 6,500 tonnes of steel to Australia in May, the highest-ever export volume to the market in a month.
Illustrative image (Source: VNA) Hanoi (VNA) – The Hoa Phat Group is scheduled to ship 6,500
tonnes of steel to Australia in May, the highest-ever export volume to the
market in a month.
The group said its steel exports to Australia has surged after the Australia Anti-Dumping Commission (ADC) ended investigation into antidumping charges against Hoa Phat and other steel producers of Vietnam as it found no violations.
In the previous years, Hoa Phat received orders for an average of 3,000 tonnes of steel from Australia each month.
Last year, Hoa Phat exported 36,000 tonnes of rolled steel and steel bars to Australia and received no complaint from Australian customers. Since early April 2018, its export volume has reached 4,200 tonnes.
With good signals from the Australian market following the ADC’s decision, the group expects even higher growth in the market in the future.
Australia is the world’s biggest exporter of iron ore with high quality. Last year, Hoa Phat partnered with four biggest iron ore suppliers of Australia to ensure the long-term supply of materials for its plants, especially Hoa Phat Dung Quat iron and steel production complex in the central Quang Ngai province.-VNA
The group said its steel exports to Australia has surged after the Australia Anti-Dumping Commission (ADC) ended investigation into antidumping charges against Hoa Phat and other steel producers of Vietnam as it found no violations.
In the previous years, Hoa Phat received orders for an average of 3,000 tonnes of steel from Australia each month.
Last year, Hoa Phat exported 36,000 tonnes of rolled steel and steel bars to Australia and received no complaint from Australian customers. Since early April 2018, its export volume has reached 4,200 tonnes.
With good signals from the Australian market following the ADC’s decision, the group expects even higher growth in the market in the future.
Australia is the world’s biggest exporter of iron ore with high quality. Last year, Hoa Phat partnered with four biggest iron ore suppliers of Australia to ensure the long-term supply of materials for its plants, especially Hoa Phat Dung Quat iron and steel production complex in the central Quang Ngai province.-VNA
You should also see
Airports to offer 9,000 domestic flights during upcoming holidays
Vietnamese airlines are expected to operate 9,000 flights on domestic routes to meet the travel demand during the upcoming National Reunification Day (April 30) and May Day (May 1) holidays, according to the Airports Corporation of Vietnam (ACV).
See more
Business
Vietnam’s rice exports may exceed 2024 target
With positive results recorded so far, Vietnam can exceed its target of 7.6 million tonnes in rice export volume set for 2024, Nguyen Ngoc Nam, Chairman of the Vietnam Food Association, said at a conference in the Mekong Delta city of Can Tho on April 26.
Business
Ample room for Quang Ninh to attract FDI
The northeastern province of Quang Ninh has ample room to attract foreign direct investment (FDI) and realise the goal of attracting 3 billion USD in FDI this year and 10 billion USD in the 2020-2025 period.
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
Business
Vietnam makes initial efforts to approach creative industries: CIEM
Vietnam has made initial efforts to approach creative industries and services, particularly a policy framework related to creative economy development, according to a new report released by the Central Institute for Economic Management (CIEM).
Business
HCM City wants to become major partner, customer of NVIDIA: Official
Chairman of the People’s Committee of Ho Chi Minh City Phan Van Mai has told the Vice President of Worldwide AI Initiative at NVIDIA, Keith Strier that the city wants to become a major and good partner and customer of the firm in Vietnam.
