Hoa Phat Steel diversifies export markets

In 2018, Hoa Phat construction steel exported nearly 240,000 tons, increased more than 50% compared to the previous year. Among the main markets such as Japan, USA, Cambodia, Malaysia, the Japanese market has the strongest growth, 20 times higher than the previous year.

So far, Hoa Phat Steel has conquered 14 markets around the world. New markets such as New Zealand, Canada, South Korea and Brunei have increased orders. These are all fastidious markets and prove the very high competitiveness of Hoa Phat construction steel in the international market.

In particular, the Japanese market last year has sharply increased orders and all are high quality rolled steel. If in 2017 the amount of goods exported to this country reached only more than 2,900 tons, this figure has increased to 58,513 tons, equivalent to an increase of 20 times.

Followed by Cambodia, Malaysia, the markets witnessed growth of 246% and 202% compared to 2017. In particular, Cambodia accounted for the largest share of exports in 2018 with nearly 70,000 tons, accounting for 29.26 % exports. According to the leader of Hoa Phat Group, this will remain a very potential market for Hoa Phat steel products in the near future, because this neighboring country does not have a steel industry, while high-rise construction projects. floors are increasing, leading to very high demand for steel imports.

For the US market, despite being subject to the 25% import tax under the law 232, Hoa Phat Steel still exported a total of 35,600 tons to this market, accounting for nearly 15% of production and the third highest among 14 export markets in 2018.

The diversity helps Hoa Phat Steel not be dependent on any specific market, proactively allocating export output when necessary. In 2019, Hoa Phat Group still focuses on the domestic market and keeps a share of over 10% for exports, targeting many markets and focusing on Southeast Asian countries.

Nghi Tran