Vietnamplus

The steel output of Hoa Phat Group, Vietnam’s leading steel producer, exceeded the 5-million-tonne benchmark for the first time in 2020.

2020 was a difficult year for the global economy including Vietnam, but some Vietnamese billionaires still saw their net asset value increase.

Steel exports in November surged 21.52 percent month on month and 40 percent year on year, reaching more than 478,300 tonnes, reported the Vietnam Steel Association (VSA).

The conclusion of the UK-Vietnam Free Trade Agreement (UKVFTA) demonstrates the importance of Vietnam as a market and its heightened position in the eyes of the UK, Vietnamese Ambassador to the UK Tran Ngoc An told the Vietnam News Agency after the finalisation of the bilateral trade deal in Hanoi on December 11.

Leading steel manufacturer Hoa Phat Group sold 95,000 tonnes of steel pipes in November, a year-on-year increase of 31.2 percent.

Leading steel manufacturer Hoa Phat Group sold nearly 4.14 million tonnes of steel in the first ten months of 2020.

Vietnam exported over 400,000 tonnes of construction steel in the third quarter of 2020, increasing by 4 percent and 37 percent compared to the first and second quarters, respectively, according to the Vietnam Steel Association (VSA).

The industrial manufacturer Hoa Phat Group posted 24.9 trillion VND in revenue in the third quarter of this year, up 62.7 percent year on year, and after-tax profit of over 3.78 trillion VND, doubling the figure recorded in the same period last year, the highest result that the firm has made in a quarter.

Hoa Phat Steel said it shipped 62,700 tonnes of finished steel abroad in September, doubling the figure a year ago.

The implementation of many large projects after the social distancing period and disbursement of public investment for infrastructure until the end of this year are expected to support growth in construction steel consumption, according to Rong Viet Securities (VDSC).

Construction steel sales are predicted to recover in the remaining months of 2020 after a fall in the January-August period due to impacts from the COVID-19 pandemic, according to the Vietnam Steel Association (VSA).

Hoa Phat Group sold nearly 500,000 tonnes of products in August, including over 320,000 tonnes of steel and 170,000 tonnes of billets despite COVID-19 pandemic.

Hoa Phat Hung Yen Steel Co., Ltd – a subsidiary of Vietnam's leading steel manufacturer Hoa Phat Group - has signed a number contracts to export high-quality rolled steel branded SAE to African markets, marking its success in opening new export markets.

Leading steel manufacturer Hoa Phat Group sold 300,000 tonnes of construction steel in July, a rise of 19 percent over that in June and 27.5 percent year on year.

Hoa Phat Group (HPG), the largest steel maker in Vietnam, reported post-tax profit of over 2.75 trillion VND (120.2 million USD) in the second quarter of this year, its highest quarterly post-tax profit for 30 years, up 34 percent year-on-year.

Listed steel companies reported positive business results in the first quarter of this year despite the impacts of the COVID-19 pandemic.

Hoa Phat Group, the largest steel maker in Vietnam, exported over 20,000 tonnes of construction steel in April, up 17 percent year-on-year.

The building material sector would be among the first to benefit from the Government’s efforts to speed up disbursement of public investment, which was identified as a growth driver as the COVID-19 pandemic cast a shadow on the economy.

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.