Vietnamplus

Steel manufacturer Hoa Phat Group sold a total of 869,000 tonnes of steel in April, a surge of 65 percent compared to the same month last year.

Leading steel manufacturer Hoa Phat Group sold more than 2.16 million tonnes of steel in the first quarter of this year, recording strong increases in the sales of all products in the period.

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

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

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 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.

Steel maker Hoa Phat has signed a contract to sell 120,000 tonnes of steel billets, worth over 1 trillion VND (nearly 43 million USD), to China’s firm Hangzhou CIEC Group Co., Ltd.

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.

The Trade Remedies Authority of Vietnam (TRAV) is verifying some domestic companies’ dossiers that seek a sunset review of the safeguard measure on steel billets and long steel products imported into the country.

Vietnam’s Ministry of Industry and Trade (MoIT) has decided to maintain safeguard measures for steel billets and steel bars imported from a number of countries and territories including China, the US, Canada, Germany, France, Japan and the Republic of Korea.

Japanese steelmaker Kyoei Steel Group has announced that it would build a 200 million USD reinforcing bar factory in northern Vietnam.

The steel industry is predicted to grow by 12-15 percent in the next five years, heard a workshop titled “Steel sector dialogue: Prospects 2017-2020” in Ho Chi Minh City on June 12.

The domestic steel market has seen a price surge and hoarding before temporary safeguard measures recently imposed on two types of steel imports into the Southeast Asian country, experts said.