Leading steelmaker exports 165,000 tonnes in eight months
Leading steelmaker Hoa Phat shipped abroad 165,000 tonnes of construction steel in the first eight months of this year, up 38 percent year-on-year, according to the group.
Hanoi (VNA) – Leading steelmaker Hoa Phat shipped abroad 165,000 tonnes ofconstruction steel in the first eight months of this year, up 38 percentyear-on-year, according to the group.
During the period, it churned out a total of 1.77 million tonnes ofconstruction steel, an increase of more than 20 percent against thecorresponding time last year.
In August alone, Hoa Phat produced 193,000 tonnes of construction steel, ayear-on-year rise of 7.6 percent, and exported nearly 18,000 tonnes, almostdoubling the amount recorded in the same period last year, earning 9.4 millionUSD.
With these achievements, the group has maintained its leading position in thedomestic steel industry with a market share of 25 percent.
Between January and August, Hoa Phat sold 252,883 tonnes of steel to thedomestic 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, itshipped 240,000 tonnes of steel abroad, up 50.97 percent against the previousyear.-VNA
In the second half of this year, increasing competition in product quality, prices and market share are predicted to force steel companies to work harder to maintain their foothold in the market.
Hoa Phat Group sold more than 1.34 million tonnes of construction steel to the Vietnamese market in the first half of 2019, up 22.9 percent year on year, retaining its position as the biggest supplier with a market share of 25 percent.
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Illustrative image (Photo: VNA) 
