Vietnamplus

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).

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).

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

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, 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 sales of Hoa Phat construction steel grew nearly 30 percent year on year to 933,626 tonnes in the first for months of the year.

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.

Steelmaker Hoa Phat set new records in sales and exports after the group sold 250,000 tonnes of construction steel in October, with 40,000 tonnes shipped abroad.

The domestic steel industry has seen a slowdown in recently months with weak steel sales and price drops, according to the Vietnam Steel Association (VSA).

Vietnam spent 5.84 billion USD importing 13.92 million tonnes of steel and iron products in the first nine months of the year, the General Department of Customs’ statistics revealed

Domestic steel prices are expected to rise in the near future, thanks to increasing construction demand, the real estate market’s recovery and high consumption.