Hoa Phat posts 11.3-pct rise in construction steel export volume
Hoa Phat Group exported more than 265,000 tonnes of construction steel in 2019, up 11.3 percent year on year, the multi-sectoral conglomerate reported.
The export volume of Hoa Phat's construction steel grows 11.3 percent in 2019 (Illustrative photo: VNA)
Hanoi (VNA) – Hoa Phat Group exported more than265,000 tonnes of construction steel in 2019, up 11.3 percent year on year, themulti-sectoral conglomerate reported.
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 whichHoa Phat shipped 151,000 tonnes of steel, accounting for over 50 percent of thetotal export volume, the firm said, noting that this market is important sinceit is next to Vietnam, which helps reduce transportation cost, and has yet tohave 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, provingthe competitiveness and quality of Hoa Phat steel in the global market, thegroup said.
For 2020, the business aims to ship 400,000tonnes of construction steel abroad, equivalent to nearly 10 percent of itssale target.
Apart from construction steel, Hoa Phat has beenboosting the export of other steel products like steel pipe, coated steel sheetand prestressed steel.
In particular, it exported over 25,000 tonnes ofsteel pipe and coated steel sheet in 2019 and plans to raise this figure by 20percent to 30,000 tonnes this year./.
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The export volume of Hoa Phat's construction steel grows 11.3 percent in 2019 (Illustrative photo: VNA) 
