Vietnam’s Hoa Phat Steel Sheet increases exports thanks to FTAs

Wednesday, 26 August 2020 13:45:29 (GMT+3)   |   Istanbul

Vietnam-based Hoa Phat Steel Sheet has announced that it has concluded a series of export contracts to Asia, Europe and Mexico, to penetrate into new markets and promote exports. The first batch of 10,000 mt of steel sheet is expected to arrive in Thailand at the end of August.

According to the company, Thailand’s strengthening of measures and import management for galvanized steel sheet products, especially the imposition of antidumping duties on galvanized coil from China, has opened up huge export opportunities for Vietnamese galvanized steel producers.

The EU-Vietnam free trade agreement, the ASEAN-China free trade agreement, and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership are an important basis for Hoa Phat Steel Sheet to promote exports to the EU, ASEAN countries, China, and Asia-Pacific markets such as Australia, Brunei, Canada, Chile, the US, Japan, Malaysia, Mexico, and New Zealand, as SteelOrbis understands.

Hoa Phat Dung Quat Iron and Steel Production Complex has managed to produce hot rolled coil using its Italian continuous casting and rolling production line, enabling it to control the quality and meeting the most strict export standards. The company has also increased its domestic HRC sales. Its domestic sales volume in the first six months increased by 200 percent compared to the same period of last year.

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