Hoa Phat’s steel pipe exports rise 16 pct in seven months
admin 11-08-2020, 21:30
Hoa Phat’s steel pipe exports rise 16 pct in seven months
Illustrative image (Photo: Hoa Phat Group)   Hanoi (VNA) – Despite the impacts of the COVID-19 pandemic, steel maker Hoa Phat still sold 422,300 tonnes of steel pipes in the first seven months of the year.

Of which, its export volume of the products rose by 16 percent from the same period last year to 10,800 tonnes in the period. Its importers included the US, Canada, Australia, Mexico and Southeast Asia.

In July alone, Hoa Phat Steel Pipe Company Limited, a subsidiary of the Hoa Phat Group, provided 75,200 tonnes of steel pipes to the local market, a 7 percent year-on-year increase. The northern region had the highest growth rate with 18 percent, following by the southern region with 9.3 percent. Hoa Phat steel pipes continued to lead the industry with a market share of 32 percent.

According to the Vietnam Steel Association (VSA), steel pipe export volume in the first half of the year of its member companies fell by 17.3 percent from the corresponding period last year. However, Hoa Phat steel pipes still had positive results thank to diversified markets and flexible sale policies.

The company has paid attention to investing in improving product quality and introducing new products, especially large pipes with super large diameters. The products have been used for projects across the country.

The products have affirmed the position and stature of the Hoa Phat Steel Pipe Company and contributed to the increase in its sales volume in the first seven months of 2020.

The Hoa Phat Steel Sheet Company Ltd also achieved positive results. Its popular products saw increased market coverage and were highly appreciated by customers. The premium diamond sheet and panel steel products have been initially welcomed by projects.

Hoa Phat’s steel sheet unit also recorded positive results with its first export order of more than 10,000 tonnes to the Thai market./.