Steel export turnover in the first seven months of the year reached US$1.93 billion, posting 14.7 per cent year-on-year increase. — Photo courtesy of Hoa Phat
Steel exports have reached almost US$2 billion so far this year – an increase of almost 15 per cent compared to the same period in 2018.
According to the General Department of Customs, Viet Nam’s steel exports in July rose by 4.7 per cent from the previous month. The steel exports saw an increase in July after three months of consecutive decreases.
The US continued to be the largest importer of steel products with turnover of $378.3 million, accounting for 19.5 per cent of the country’s total exports. It was followed by Japan, India, Thailand and South Korea.
In addition to the US and Asian markets, steel exports to European countries also rose in the January-July period.
Shipments to Switzerland increased sharply by 206 per cent from the same period last year. In addition, steel exports to Norway and England were also surged.
Leading steelmaker exports 165,000 tonnes in eight months
Hoa Phat Group shipped abroad 165,000 tonnes of construction steel in the first eight months of this year, up 38 per cent year-on-year.
During the period, it churned out a total of 1.77 million tonnes , an increase of more than 20 per cent against the corresponding time last year.
In August alone, Hoa Phat produced 193,000 tonnes of construction steel, a year-on-year rise of 7.6 per cent, and exported nearly 18,000 tonnes, almost doubling the amount recorded in the same period last year, earning $9.4 million.
With these achievements, the group has maintained its leading position in the domestic steel industry with a market share of 25 per cent.
Between January and August, Hoa Phat sold 252,883 tonnes of steel to the domestic market, up 2.15 times as compared with the same period of 2018.
Hoa Phat plans to produce some 4 million tonnes of construction steel in 2019.
Last year, it shipped 240,000 tonnes of steel abroad, up 50.97 per cent against the previous year. — VNS