Hoa Phat’s construction steel market share rose by 36.3 per cent

In January 2022, Hoa Phat’s construction steel achieved a sales volume of nearly 382,000 tons, double the same period last year. In which, the export volume of construction steel in January reached 116,000 tons, three times higher than the corresponding period in 2021 and accounting for 50 per cent of Vietnam's total export of construction steel. Hoa Phat’s construction steel market share in Vietnam reached 36.3 per cent, up nearly 6 per cent compared to the end of 2021.

According to the Vietnam Steel Association (VSA), the total construction steel consumption of the whole market in the first month of the year reached over 1 million tons, up 1.55 per cent over the previous month and representing 27.8 per cent year-on-year increase. Exports of this item in January reached 231,892 tons, doubled over the same period in 2021. 

In the first month of the year, Hoa Phat’s construction steel production surged sharply in the domestic market due to increasing demand for civil construction and projects before the Tet (Lunar New Year). The South and Central regions had the strongest growth, increasing 2 and 3 times respectively over the same period.

By meeting the strict standards of UK Cares, JIS (Japan), ASTM (the US), BS (the UK), Hoa Phat’s high quality construction steel continuously receives large orders in the international market. Its main export markets include Singapore, Hong Kong, Canada, Japan, South Korea, Cambodia.

According to Mr. Kieu Chi Cong - Director of Hoa Phat Hung Yen Steel Company Limited, steel demand in the upcoming months in the domestic market and export would be still high. The company has received maximum export orders for factories in Hai Duong and Quang Ngai provinces until April. With this number of orders, their factories must always operate at full capacity to serve market demand. The exploitation of export markets aims to diversify consumption markets, and at the same time contribute to foreign currency collection and trade balance of Vietnam.

HPG News