Hoa Phat’s construction steel exports rose by 9 times

Hoa Phat’s construction steel in August reached a relatively high sale despite of the low season. Its total construction steel sold in the market was 192,600 tonnes, increasing 31 per cent from the same period last year and maintaining its leading position with 24 per cent of market share.

Hoa Phat sold more than 1.4 million tonnes of construction steels in the first 8 months of the year, representing 32.3 per cent year-on-year increase. Big contractors such as Hoa Binh, Tan Hoang Minh and Coteccons prioritised to choose Hoa Phat steels for their projects nationwide. Its high quality wire rod steels labelled SAE 1006, SAE 1008, SAE 1012,… have been given positive response from the both local and foreign markets.

The river port at Hoa Phat Steel Complex facilitates exports to both domestic and foreign markets

Especially, Hoa Phat’s exported steel amount rose by 9 times from the same period last year. In August, Hoa Phat shipped 116,000 tonnes which was much higher than that of 12,000 in the same period last year. Its main imported markets including the US, Canada, Australia, ASEAN countries such as Malaysia, Cambodia, Laos, the Philippines. In addition to construction steel, Hoa Phat also exported some 27,000 tonnes of steel billet in the 8 month period.

Hoa Phat’s leaders said the market would see higher consumption from September onward thank to the better weather conditions for constructions. Its steel factories have been under maximum capacity to quickly serve all demands of local customers and exports in the upcoming time.

The group has closely followed construction of the Hoa Phat Dung Quat Integrated Steel Complex to ensure progress. All legal procedures for implementation of the project and negotiations to choose contractors were completed.

Hoa Phat has accelerated negotiations with European partners on the thin slab caster and hot-rolled mill which account for the biggest portion in the second phase of the project with capacity of 2 million tonnes a year. The group would complete choosing contractor for the equipment in September.

Nghi Tran