Hoa Phat Group has just signed a contract to export a shipment of 8,000 tons of rebar to Mexico. This is the first order to be exported to this North American country, creating momentum to expand the consumption market for Hoa Phat construction steel products.
According to a representative of Hoa Phat Hung Yen Steel Company, the consignment of rebar steel has the ASTM steel mark, manufactured according to ASTM – USA standards. This is a type of reinforced concrete commonly used for construction. Delivery time is expected in August 2022, from Hoa Phat Hai Duong Iron and Steel Production Complex.
With a modern and closed production line, Hoa Phat provides a variety of steel grades, Hoa Phat’s steel products are of high quality, highly competitive in the world market.
In the first 6 months of 2022, Hoa Phat exported 750,000 tons of construction steel of all kinds, doubling the same period in 2021; in which, over 553,000 tons of bar steel, the rest is rolled steel. Up to now, Hoa Phat construction steel has been exported to 25 countries and territories such as the United States, Canada, Japan, Korea, Singapore, Hong Kong (China), Malaysia….. The declaration Exploiting new markets helps Hoa Phat diversify its consumption markets, and at the same time contribute to foreign currency collection and balance of trade of Vietnam.
Regarding the proportion of consumption, Hoa Phat Group determines that the domestic market is always the number 1 priority, consuming 70-80% of annual production output. In the first half of 2022, Hoa Phat’s output reached 2.3 million tons, up 29% over the same period.
Hoa Phat holds the No. 1 market share in Vietnam for construction steel. With a crude steel capacity of 8.5 million tons/year; including 5.5 million tons of billet, construction steel and 3 million tons of HRC/year, Hoa Phat is a major steel producer in Vietnam, in the Top 50 largest steel enterprises in the world.