August 14, 2017 | 19:11 (GMT+7)
Hoa Phat Group posts robust growth in steel production
Hoa Phat Group, a leading Vietnamese industrial production firm, manufactured some 209,000 tons of steel in July, up 24.7 percent from last month and nearly 50 percent from the same period last year, retaining top spot in terms of domestic steel market share.
Hoa Phat Group steel manufacturing
The group sold 33,000 tons of wire rods in the month, surging 54 percent from June, while some 21,800 tons of steel were shipped abroad, increasing total steel exports to 111,800 tons in the first seven months of the year.
From the outset of this year, the group produced more than 1.24 million tons, a year-on-year increase of 32.3 percent. The company attributed the growth to thriving civil construction.
According to the Vietnam Steel Association, domestic steel production plants can meet domestic demand for steel products for construction.
Steel production in Vietnam expanded 12.8 percent year-on-year to nearly 11.3 million tons in the seven-month period ending in July, the association said.
Source: VNA