Hoa Phat Group, a major industrial production group in Vietnam, manufactured 542,000 tonnes of steel in the first quarter of 2018, up nearly 10 percent year on year.
Hoa Phat Group manufactures 542,000 tonnes of steel in the first quarter of 2018 (Photo:thephoaphat.org)
Hanoi (VNA) - Hoa Phat Group, a major industrialproduction group in Vietnam, manufactured 542,000 tonnes of steel in the firstquarter of 2018, up nearly 10 percent year on year.
During the period, it exported more than 73,000 tonnes ofsteel for more than 7 million USD.
In March alone, the firm sold more than 180,000 tonnes ofsteel, equivalent to last year’s figure and increasing 10 percent fromFebruary. The group shipped 11,700 tonnes of steel abroad, mainly to Australia,Southeast Asian countries, and the US.
As a result, Hoa Phat’s steel market share went up to 24percent, leading the sector in Vietnam.
By the end of March, the Australian Anti-Dumping Commission(ADC) ended its year-long investigation into alleged dumping of steel rod incoils exported to Australia from Vietnam in favour of the country after findingno evidence of foul play.
In its Terminal Report No. 416 issued on March 26, thecommission concluded that “the dumping margin for Hoa Phat, and for all otherexporters from Vietnam, is negative.”
ADC’s decision is good news for Vietnamese steel producersas Australia is a potential steel market.-VNA
Hoa Phat Group, a major industrial group in Vietnam, announced that it exported 30,800 tonnes of steel to the US, Australia and Asian countries in February.
Steelmaker Hoa Phat Group targets revenue of 55 trillion VND (around 2.42 billion USD) and after-tax profit of 8.05 trillion VND (354.6 million USD) in 2018.
Hoa Phat Equipment & Accessories Co., Ltd, a subsidiary of the leading Vietnamese steel maker Hoa Phat Group (HPG), sold 3,000 tonnes of wire drawing steel in the domestic and foreign markets, namely the Republic of Korea (RoK) and Laos, in the first quarter of 2018.
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Hoa Phat Group manufactures 542,000 tonnes of steel in the first quarter of 2018 (Photo:thephoaphat.org) 
