Hoa Phat churns out nearly 1.5m tonnes of steel in eight months

Wednesday, Sep 12, 2018 15:55

Hoa Phat Group exported nearly 119,000 tonnes of construction steel in the first 8 months of the year. — VNS Photo


Hoa Phat Group has announced that it produced 179,400 tonnes of construction steel in August, 9,500 tonnes of which were for export. 

Its export volume rose by 63 per cent year-on-year. In the first eight months of this year, Hoa Phat manufactured 1.47 million tonnes of steel, up nearly 10 per cent annually. 

Consumption in the central and Central Highlands regions posted the highest growth of nearly 18 per cent. Meanwhile, the traditional market in the north bought over one million tonnes during the period, up 8.9 per cent year-on-year. Its traditional foreign markets include Australia, Cambodia, the US and Malaysia while Canada is a new market. 

From January-August, Hoa Phat Group exported nearly 119,000 tonnes, mostly steel and rolled steels SAE1008, SAE1015, SWRM17. 

According to the Viet Nam Steel Association, sales of construction steel in August often decrease due to prolonged rain that slow the progress of construction work. A representative from Hoa Phat said between now and the year’s end, the group will enhance production at its iron and steel complex in the northern province of Hai Duong and will soon put into operation the first steel laminating line at its Dung Quat complex to increase sales in the Central and the South as well as exports. 

Production at the complex in Hai Duong has risen by nearly 18,000 tonnes per month from the beginning of this year. Together with the first products at Dung Quat complex in the fourth quarter, Hoa Phat is expected to surpass its plan of selling 2.3 million tonnes this year. — VNS

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