Hoa Phat Group, the largest steel manufacturer in Vietnam has exported more than 265,000 MT construction steel in CY19, up by 11.3% Y-o-Y.
Hoa Phat export shipments to Cambodia were the largest, about 151,000 MT of steel, accounting for over 50% of total export volume. Noting that this market is important since it is next to Vietnam, which helps reduce transportation cost, and has yet to have developed steel industry while its steel demand is high, the firm said.
Other major export destinations were – Japan (55,000 MT), Canada (20,000 MT), the US and Malaysia, which are all demanding markets, proving the competitiveness and quality of Hoa Phat steel in the global market, the group said.
For CY20, the business aims to ship 400,000 MT construction steel abroad, equivalent to nearly 10% of its sale target.
Apart from construction steel, Hoa Phat has been boosting the export of other steel products like steel pipe, coated steel sheet and prestressed steel.
In particular, it exported over 25,000 MT of steel pipe and coated steel sheet in CY19 and plans to raise this figure by 20% to 30,000 MT this year.
~Sourced
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