Hoa Phat Group has signed a contract with Hangzhou CIEC Group Co. Ltd (CIEC), China for the supply of 120,000 MT billets worth VND 1,000 Billion, company mentioned in a press release. This is the first time when CIEC has ordered such a large volume.
According to Hoa Phat Hung Yen Steel Co. Ltd, the unit in charge of selling construction steel products and steel billets said that the aforementioned export of billets will be delivered in several batches from early Jun to end of Aug’20.
The strong increase in steel billet export volume is due to Hoa Phat’s advantages in scale, technology, quality, ability to deliver goods quickly and in large volumes, especially the logistics advantage (deep-sea port). On the other hand, many Chinese steel mills have been seeking the supply of billet at reasonable prices to take advantage of the policy to boost public investment and stimulate the country’s growth after controlling the epidemic.
Hangzhou CIEC Group Co., Ltd. is a large state-owned steel enterprise in China. In CY’19, they bought over 100,000 MT of Hoa Phat billet and in the first 4 months of CY’20, nearly 60,000 MT.
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