Market leader Hoa Phat Group last month exported over 12,000 tonnes of products, mostly cold-galvanized steel, to North and South America. This followed an export of 10,000 tonnes in January to Belgium and Spain. The company targets producing 300,000-400,000 tonnes of steel products this year, 30-40 percent of which are likely to be exported. Its competitor Hoa Sen Group last month set a new export record of 121,000 tonnes of galvanized steel worth more than $100 million. The group has a network of over 85 countries and territories, with main markets being the U.S, Mexico, Europe and Southeast Asia. Vietnam's steel industry is expected to see growth of 5-6 percent this year, with global demand set to rise by 4.1 percent thanks to recovery in developed markets, according to the Vietnam Steel Association (VSA). Other drivers for growth include expectations of rising public investment in infrastructure, the recovery of the real estate market and more foreign direct investment, said VSA deputy chairman Trinh Khoi Nguyen. The industry started 2021 strongly, with a 61 percent year-on-year rise in production volume to 2.65 million tonnes. Domestic sales in the period rose 55 percent to 2.12 million tonnes, while exports rose 53 percent… Read full this story
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