Vietnam-based steelmaker Hoa Phat Group has increased exports in February, with its billet sales abroad totaling 110,000 mt, against 60,000 mt in January. The main sales destinations were Thailand, Indonesia and other countries, according to the company’s report.
Moreover, Hoa Phat has achieved finished steel product export sales of over 40,000 mt in February, up 48 percent from January and 2.7 times higher than the same period of 2019. Higher exports to Canada accounted for 54.4 percent of total sales abroad, leading to overall better results. Thailand and Malaysia were also among the buyers of Hoa Phat’s construction steel.
In February, Hoa Phat’s sales reached 205,490 mt of construction steel, up slightly over the same period last year.
Hoa Phat is likely to keep its presence in the billet export market, seeing steady demand. Moreover, in April the company is going to start trial production of HRC within the scope of the Hoa Phat Dung Quat Iron and Steel Complex Phase II.
