Hoa Phat Steel completed 98 per cent of 2017’s set targets

Hoa Phat Steel reached a sale of 1.95 million tonnes in the first 11 months of the year, meeting with 98 per cent of the whole year’s set targets. This presented 23.7 per cent increase from the same period last year and 10 per cent higher than total sale of 2016.

Alone in November, Hoa Phat Steel’s consumption rose by 12.3 per cent from last year to 228,000 tonnes. The sale was the only lower than the record level of 242,000 tonnes in February. The rolled steel output of its factories also reported the record level of 196.000 tonnes, increasing 10 per cent of the average in the first 10 months of the year.

In the domestic market, Hoa Phat continued to affirm its leading position with 24 per cent of market share. Its steel sale in the central and southern regions has been on the rise. The steel sale in the markets was increased from 300,000 to 320,000 tonnes in November 2016 to 430,000 last month, up 34.4 per cent.

Hoa Phat also supplies around 50,000 tonnes of steel billets to the local and foreign markets. The total steel billets output in the first 11 months of the year was surpassed its designed capacity of 2 million tonnes to meet with the market’s demand.

Hoa Phat Steel completed 98 per cent of its set targets in 2017

Mr. Kieu Chi Cong – director of Hoa Phat One Member Company Ltd said the construction steel demand this year, especially in November was high as the investment activities, infrastructure construction and real estate projects were higher than previous years. The civil construction demand was also on the rise. Most of big property projects in the country choose Hoa Phat Steel for their construction such as Ha Long – Van Don Highway, Quang Ninh Airport, Thanh Son Hydropower Plant (Thanh Hoa Province), LG Group’s project in Hai Phong Province, Ecopark Urban Area, Da Nang – Quang Ngai Highway, Casino Hoi An (Quang Nam Province) etc.

Hoa Phat exported more than 147,000 tonnes of steel bar and rolled steel to the US, Canada, Australia, Malaysia and Cambodia. The export volume has been sharply increased in the demanding markets showing the high competitiveness of Hoa Phat steel. Especially, its high quality welding rod steel labelled SAE1006, SAE1008… has been given positive responses from the foreign market.

Hoa Phat steel also received a good news in November as the Australia Anti-dumping Commission (ADC) released a decision concluding that rolled steel imported from some countries including Hoa Phat Steel would not be imposed anti-dumping duties when exporting to Australia. Hoa Phat was active in co-operation with ADC in providing documents to clarify relevant information.

                                                                                                 Nghi Tran