Vietnam’s largest steelmaker Hoa Phat Group has said its steel exports in September doubled compared to the previous month, hitting a record high of nearly 50,000 tonnes.
While local export products have been facing more anti-dumping investigations and tax evasion cases in foreign countries, Vietnamese enterprises are still unaware of the risk.
Bilateral and multilateral economic cooperation agreements Vietnam has signed have enabled the Hoa Phat Group’s Hoa Phat Steel Sheet Co. Ltd to penetrate into many new markets and promote exports.
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.
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.
The Ministry of Industry and Trade (MoIT) has announced temporary anti-dumping duties on colour-coated steel sheets originating from China and the Republic of Korea (RoK), which take effect from June 25.
Hoa Sen Corporation shipped 17,000 tonnes of steel sheet worth over 14 million USD to the US on January 10 – the firm’s first batch of exports to the market in 2019.
The Indonesian Anti-Dumping Committee (KADI) has announced the application of anti-dumping measures on colour-coated steel sheet imports from Vietnam and China.
Nam Kim Steel Joint Stock Company has approved a report on the pre-feasibility study, conducted for setting up a steel sheet factory in the southern province of Ba Ria-Vung Tau.
Hoa Phat Group (HPG) has decided to invest about 4 trillion VND (180 million USD) in building a plated steel sheet plant in the Pho Noi A Industrial Park, the northern province of Hung Yen.
The domestic structural steel market has seen a growth rate of between 25 and 30 percent in sales thanks to the strong recovery of the domestic real estate market, said independent market watch-dogs.
Steel maker Hoa Sen group began the construction of a 5 trillion VND
(230 million USD) steel sheet factory at the Dong Hoi industrial zone in
Hoang Mai town in the central province of Nghe An on June 19.