Hoa Phat construction steel market share increased to 36.3%

Hoa Phat construction steel market share in Vietnam reached 36.3%, up nearly 6% compared to the end of 2021. 

In January 2022, Hoa Phat construction steel achieved sales volume of nearly 382,000 tons, 2 times higher than the same period in 2021. In which, construction steel export volume in January reached 116,000 tons, 3 times higher. same period in 2021 and account for 50% of Vietnam's total export of construction steel.

According to the Vietnam Steel Association, the total construction steel consumption of the whole market in the first month of the year reached over 1 million tons, up 1.55% over the previous month and up 27.8% over the same period in 2021. Exports of this item in January reached 231,892 tons, 2 times higher than the same period in 2021.

In the first month of the year, Hoa Phat construction steel production increased sharply in the domestic market due to increased demand for civil construction and projects before the Lunar New Year. The South and Central regions had the strongest growth, 2 and 3 times respectively over the same period last year.

By meeting the strict standards of UK Cares, JIS (Japan), ASTM (USA), BS (UK), Hoa Phat high quality construction steel continuously receives large orders in the market. international. Main export markets include Singapore, Hong Kong (China), Canada, Japan, Korea, Cambodia.

According to Mr. Kieu Chi Cong - Director of Hoa Phat Hung Yen Steel Co., Ltd., steel demand in the coming months in the domestic market and export is still high. The company has received maximum export orders for factories in Hai Duong and Quang Ngai until April. With this number of orders, factories must always operate at full capacity to serve market demand.

The exploitation of export markets aims to diversify consumption markets, and at the same time contribute to foreign currency collection and balance of trade of Vietnam./.

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