Vietnamplus

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

The production and consumption of building materials started resuming at the end of the third quarter this year as lots of construction works were speeding towards completion, however, local producers have been warned to watch the market to avoid a possible surplus.

The first stage of Nghi Son steel rolling mill was inaugurated at Nghi Son economic zone in the central province of Thanh Hoa on October 23.

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 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.

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.

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 COVID-19 epidemic has affected the Vietnamese economy, including the construction sector.

The Ministry of Industry and Trade (MoIT) has extended the application of measures to prevent evasion of safeguard duties against imported rolled steel and steel wire until March 21, 2023, according to the ministry’s Trade Remedies Authority of Vietnam.

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.

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.

Lao Cai must strive towards sustainable and inclusive tourism development, Prime Minister Nguyen Xuan Phuc told the northern mountainous province’s trade, investment and tourism promotion conference, which took place on July 20.

Vietnamese manufacturers are set to increase their selling prices following the 8.36 percent hike in electricity price that launched from March 20.

Deputy Minister of Industry and Trade Do Thang Hai has asked the Vietnam Steel Corporation (VNSteel) to provide accurate market evaluations and forecasts to build the production and business plan.

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.

Steel will be included in the country’s key export items besides fruits, garment and textile, footwear and seafood products, an official from the Ministry of Industry and Trade has said.