Hoa Phat’s steel pipe output surged from previous year

In the first four months of the year, Hoa Phat Steel Pipe Company Ltd provided 201,200 tonnes of steel to the market, increasing 18.7 per cent from the same period last year. It continued to take the leading position in the country’s steel sector with 27.37 per cent. Especially, the company’s steel export volume was 2.7 times higher than the corresponding period last year.

Hoa Phat Steel Pipe Company Ltd has seen strong growth in exports though many countries in the world enhanced tax duties on steel products imported from Viet Nam. Specifically, the company shipped 4,600 tonnes of steels to Canada, the US and European countries.

The steel pipe output rose by 2.7 times from the same period last year and a half of the total export amount in 2017. This has shown that Hoa Phat’s products have extremely high competitiveness in both local and foreign markets.

The Viet Nam Steel Association (VSA) forecast that the country’s steel exports have seen continuous high growth in the first months of 2018 despite of worries about protectionism has been on the rise. This has revealed that tax duties applied by the US have not had big affects to the steel sector as the country was active in seeking new export markets such as the EU, Japan and Southeast Asian region.

Hoa Phat Steel Pipe Company Ltd has a capacity of 800,000 per year in Hung Yen, Da Nang, Binh Duong and Long An. The company planned to increase its output by 14 per cent and galvanised steel by 20 per cent in 2018. The company targeted to enhance its exports to foreign markets to fully use its factories’ capacity while affirming brandname in international era. This has been one of its key tasks this year.

Nghi Tran