As per data furnished by Vietnam’s General Statistics Office, steel major Hoa Phat Group has shipped out 0.31 mn t of finished steel products in Jan-Aug’20 – about two times higher y-o-y and 17% higher than total exports in CY19 – mainly to China and ASEAN nations amid weak domestic demand. Moreover, the steel-maker has inked a contract to supply nearly 1.5 mn t of billets to both domestic and foreign buyers by Nov’20.
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