Hoa Phat Group exports construction steel to Mexico for first time

Hoa Phat Group has signed a contract to export 8,000 tonnes of rebar to Mexico. This is its first order from the North American country, creating momentum to expand the consumption market for Hoa Phat construction steel products.

Hoa Phat Group exports construction steel to Mexico for the first time

According to a representative from Hoa Phat Hung Yen Steel Company, the rebar steel is manufactured according to ASTM - USA standards. This is a type of reinforced concrete commonly used for construction. Delivery time is expected in August this year, with the batch dispatched from the Hoa Phat Hai Duong iron and steel production complex.

With a modern and closed production line, Hoa Phat Group provides a variety of steel grades. Hoa Phat's steel products have high quality and competitiveness in the world market.

In the first six months of 2022, Hoa Phat Group exported 750,000 tonnes of construction steel of all kinds, doubling the figure of the same period last year. In which, over 553,000 tonnes are steel bar and the rest is rolled steel.

To date, its products have been shipped to 25 countries and regions such as the US, Canada, Japan, the Republic of Korea, Singapore, Hong Kong (China) and Malaysia.

The exploitation of new markets helps Hoa Phat Group diversify its consumption markets, and at the same time contribute to foreign currency collection and balance of trade of Vietnam.

Regarding the proportion of consumption, the group determines that they has always given priority to the domestic market, consuming 70-80 per cent of annual production output.

In the first half, production output reached 2.3 million tonnes, up 29 per cent year-on-year.

Hoa Phat Group holds the No 1 market share in Vietnam for construction steel. The group has the largest share of the Vietnamese construction steel market. With a crude steel capacity of 8.5 million tonnes per year, including 5.5 million tonnes of steel billet, construction steel and 3 million tonnes of hot rolled coil (HRC) a year. Hoa Phat Group is the largest steel producer in Vietnam as well as in the Southeast Asia region, equivalent to Top 50 largest steel enterprises in the world.

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