Hoa Phat’s steel exports to Australia surges
Hoa Phat’s steel exports to Australia surges
The Hoa Phat Group is scheduled to ship 6,500 tonnes of steel to Australia in May, the highest-ever export volume to the market in a month.
According to the group, its steel exports to Australia has surged after the Australia Anti-Dumping Commission (ADC) ended investigations into anti-dumping charges against Hoa Phat and other steel producers of Viet Nam as it found no violations.
In previous years, Hoa Phat used to receive orders for an average of 3,000 tonnes of steel from Australia every month.
In 2017, Hoa Phat exported 36,000 tonnes of rolled steel and steel bars to Australia and received no complaint from Australian customers.
Since early April 2018, its export volume has reached 4,200 tonnes.
With good signals from the Australian market following ADC’s decision, the group expects higher growth in the market in future.
Australia is the world’s largest exporter of high-quality iron ore.
Last year, Hoa Phat Group partnered with four largest iron ore suppliers from Australia to ensure a long-term supply of material for its steel plants, especially the Hoa Phat Dung Quat iron and steel production complex in the central Quang Ngai Province.
