Hoa Phat targets to export 400,000 tonnes of construction steel in 2020
Hoa Phat Group has set to ship 400,000 tonnes of construction steel abroad, equivalent to nearly 10 per cent of its yearly sale target, according to the multi-sectoral conglomerate.
Hoa Phat Group has set to ship 400,000 tonnes of construction steel abroad, equivalent to nearly 10 per cent of its yearly sale target, according to the multi-sectoral conglomerate.
Apart from construction steel, Hoa Phat has also been boosting the export of other steel products like steel pipe, coated steel sheets and prestressed steel.
It exported over 25,000 tonnes of steel pipe and coated steel sheets in 2019 and plans to raise this figure by 20 per cent to 30,000 tonnes this year.
Hoa Phat exported more than 265,000 tonnes of construction steel in 2019, up 11.3 per cent year on year.
Some of its foreign markets include the US, Australia, Canada, Japan, Cambodia, Malaysia, Laos, Thailand, Indonesia, Singapore, the Philippines and Brunei.
Among them, Cambodia was the largest, to which Hoa Phat shipped 151,000 tonnes of steel, accounting for over 50 per cent of the total export volume, the firm said, noting that this market is important since it is next to Viet Nam, which helps reduce transportation costs and has yet to have a developed steel industry while its steel demand is high.
It was followed by Japan (55,000 tonnes), Canada (20,000 tonnes), 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. — VNS
