Hoa Phat steel pipe export posted 16% increase

Tuesday, Aug 11, 2020 15:43

Hoa Phat steel sheet has its first export order of more than 10,000 tonnes to the Thai market. — Photo courtesy of the group

Despite the impact of the second outbreak of the COVID-19 pandemic, Hoa Phat still sold 422,300 tonnes of steel pipes in the first seven months of the year.

Of which, its export volume of the products rose by 16 per cent from the same period last year to 10,800 tonnes in the period. Its importers included the US, Canada, Australia, Mexico and Southeast Asia.

In July alone, Hoa Phat Steel Pipe Company Limited provided 75,200 tonnes of steel pipes to the local market, a 7 per cent year-on-year increase. The northern region had the highest growth rate with 18 per cent, following by the southern region with 9.3 per cent. Hoa Phat steel pipes continued to lead the industry with a market share of 32 per cent.

According to Viet Nam Steel Association (VSA), steel pipe export volume in the first half of the year of its member companies fell by 17.3 per cent from the corresponding period last year. However, Hoa Phat steel pipes still had positive results thank to diversified markets and flexible sale policies.

The company has paid attention to investing in improving product quality and introducing new products, especially large pipes with super large diameters. The products have been used for projects across the country.

The products have affirmed the position and stature of Hoa Phat Steel Pipe Company and contributed to the increase in its sales volume in the first seven months of 2020.

Hoa Phat Steel Sheet Company Ltd also achieved positive results. Its popular products saw increased market coverage and were highly appreciated by customers. The premium diamond sheet and panel steel products have been initially welcomed by projects.

Hoa Phat's steel sheet unit also recorded positive results with its first export order of more than 10,000 tonnes to the Thai market. — VNS

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