Vietnam’s Hoa Phat Jan-Sept steel exports up 32% yoy

Amid the ongoing trade war between U.S. and China that has led to increase in trade protectionism measures by various other countries and reduced steel exports by the key steel producing nations, Vietnam’s a leading steel maker Hoa Phat Group shipped 191,600 tonnes of steel products aboard in the first nine months (Jan-Sep) of 2019, rising 32% y-o-y and accounting for nearly 10% of its total sales.

The conglomerate produced nearly 2 MnT of construction steel, up 16.1% from a year earlier. In September, it churned out more than 193,000 tonnes of construction steel, equivalent to the output in the previous month. Apart from finished steel products, the firm also supplies steel billets to the domestic factories.