Hoa Phat sells 1.16 tonnes of steel in five months

Thursday, Jun 06, 2019 16:54

Hoa Phat's steel exports rose by 21.4 per cent to about 106.400 tonnes in the first five months of the year. — Photo courtesy of Hoa Phat Group

Hoa Phat Group has said it sold 226,000 tonnes of construction steel in May with a 3.5-fold increase in the southern market, raising the five-month figure to 1.16 million tonnes, up 22.4 per cent year on year.

Construction steel sales in the southern market reached 149,270 tonnes, 2.65 times higher than the same period last year.

Steel exports also rose by 21.4 per cent to about 106,400 tonnes, mostly to Japan, the US, Canada and ASEAN member states such as Cambodia, Malaysia and Laos.

In late May, the group shipped the first batch of 6,000 tonnes of quality rolled steel from Hoa Phat Dung Quat Iron and Steel Complex in southern Quang Ngai Province to Japan. Another 18,000 tonnes are waiting for delivery abroad this month.

Also last month, it exported the first two containers of steel wires to Malaysia.

With the high growth of both local consumption and exports, Hoa Phat maintained its leading position in the country’s steel sector with a market share of 25 per cent. — VNS

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