Hoa Phat (HPG) to export 120,000 tonnes of steel billets to China

Jun 2nd at 14:05
02-06-2020 14:05:47+07:00

Hoa Phat (HPG) to export 120,000 tonnes of steel billets to China

Steel maker Hoa Phat has signed a contract to sell 120,000 tonnes of steel billets, worth over VND1 trillion (nearly US$43 million), to China’s firm Hangzhou CIEC Group Co Ltd.

 

It is the largest order ever received by Hoa Phat.

The order will be fulfilled with multiple deliveries between July and the end of August.

The steel is being produced at the Hoa Phat Dung Quat Steel Complex in the central province of Quang Ngai.

Hoa Phat Group has been enjoying surges in steel exports in recent years. The company shipped abroad about 195,000 tonnes of steel billets in 2019, 97.4 per cent of which were to China.

In the first four months of this year, it exported close to half a million tonnes of the steel billets to China and ASEAN countries. Chinese importers accounted for 43 per cent, or over 200,000 tonnes, of the volume.

Last year, Hangzhou CIEC Group ordered more than 100,000 tonnes of steel billets from Hoa Phat.

bizhub



NEWS SAME CATEGORY

SK Group acquires 25 per cent of Imexpharm (IMP)

South Korean conglomerate SK Group has become a large shareholder of Imexpharm (IMP), adding to its considerable portfolio of shares in Vingroup, Masan, and PV Oil.

Revenue to drop fifth in Q2: FPT Retail (FRT)

Second-quarter revenue is expected to drop 15-20 per cent from the first quarter due to COVID-19, FPT Retail Chairwoman Nguyen Bach Diep said on Thursday.

Savico (SVC) appoints new management board amid foreign divestment

Saigon General Services Joint Stock Company (Savico) has appointed a new board of directors for the next five years with seven Vietnamese members, while the only...

Sacombank (STB) to hold online annual meeting

Sai Gon Thuong Tin Joint Stock Commercial Bank (Sacombank) on Wednesday announced its annual shareholders’ meeting will be held online.

JB Financial acquires Vietnam-based Morgan Stanley Gateway Securities

JB Financial Group, one of South Korea's largest financial conglomerates, has successfully acquired Vietnam-based brokerage Morgan Stanley Gateway Securities.

Thaiholdings: explosive dynamism on threshold of stock exchange debut

Eight years after its birth, the equity of privately-held Thaiholdings only accounts for 35 per cent of the company’s charter capital. In only a short while early...

Mobile World (MWG) reports 45 per cent plunge in after-tax profit

The closing of hundreds of Mobile World stores across the country during COVID-19 has made the electronics retailer's after-tax profit drop by 45 per cent in April.

Vincom Retail (VRE) forecasts 2020 profit down 12 per cent due to pandemic

Shareholders in Vincom Retail have agreed with the company’s 2020 net profit target of VND2.5 trillion (US$107.3 million), a drop of 12 per cent over 2019 due to...

Pharmaceutical enterprises enjoy good earnings in Q1

Increasing demand for medicine amid the COVID-19 pandemic has helped most pharmaceutical enterprises report positive business results in the first quarter of this...

VNDirect buys three million shares of Dong Nai Port (PDN)

VNDirect Securities Corporation (VNDS) has announced it bought three million shares of Dong Nai Port JSC (PDN).


MOST READ


Back To Top