Hoa Phat Group, the largest steel maker in the country, exported over 40,000 tonnes of construction steel in February, almost tripling that of the same period last year.
Hoa Phat Group exported more than 265,000 tonnes of construction steel in 2019, up 11.3 percent year on year, the multi-sectoral conglomerate reported.
Hoa Phat Group, the largest steel maker in the country, said it provided more than 2.77 million tonnes of high-quality construction steel to the market in 2019, a year-on-year surge of 16.8 percent.
The Hoa Phat Group said its subsidiary - Hoa Phat Steel Pipe Co., Ltd - exported 17,000 tonnes of steel pipe in the first 11 months of 2019, a year-on-year increase of 22.3 percent.
Hoa Phat Group’s Dung Quat project will increase steel supply, leading to change market shares of steel firms on the domestic market, according to KIS Vietnam Securities Corporation (KIS).
Vietnam’s leading steel maker – Hoa Phat Group – and Kyoei Steel Group of Japan shared the wish for long-term cooperation in steel billet and scrap steel supply.
Hoa Phat Group, a leading steel maker in Vietnam, shipped 191,600 tonnes of steel products aboard in the first nine months of 2019, rising 32 percent year on year and accounting for nearly 10 percent of its total sales.
Second-quarter earnings of steelmaking companies showed signs of deterioration as prices of iron ore continued to increase, leading to higher production costs and lower profit.
Hoa Phat Group sold more than 1.34 million tonnes of construction steel to the Vietnamese market in the first half of 2019, up 22.9 percent year on year, retaining its position as the biggest supplier with a market share of 25 percent.
In the second half of this year, increasing competition in product quality, prices and market share are predicted to force steel companies to work harder to maintain their foothold in the market.
The list of Vietnam’s 50 best-performing companies (Top 50) was announced by the Nhip Cau Dau Tu (Investment Bridge) magazine and Thien Viet Joint Stock Company in Ho Chi Minh City on June 27.
Hoa Phat Group has said it sold 226,000 tonnes of construction steel in May with a 3.5-fold increase in southern market, raising the five-month figure to 1.16 million tonnes, up 22.4 percent year-on-year.
The Hoa Phat Group has exported two containers of steel cords to Malaysia for the first time after winning markets in the US, Canada, the Republic of Korea, and Laos.
Hoa Phat Group, the nation’s largest steel producer, has announced that it churned out nearly 250,000 tonnes of construction steel in January, up 27 percent year-on-year and equivalent to the record-breaking figures of October 2018.
Hoa Phat Group, the largest steel maker in the country, shipped abroad 240,000 tonnes of steel in 2018, up 50.97 percent against the previous year, the group said on January 7.
Hoa Phat Group, a leading steel maker in Vietnam, expects its steel output will rise to 3.5-4 million tonnes in 2019, a year-on-year rise of 33 percent, when part of its 3-billion-USD Hoa Phat Dung Quat steel complex becomes operational in the central province of Quang Ngai.
A delegation of investors from the Republic of Korea (RoK) has visited Hoa Phat Group, one of the three largest steel producers in Vietnam, to seek partnership opportunities.
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