Hoa Phat’s subsidiary to export high-quality wire rod steel to Africa

Hoa Phat’s subsidiary to export high-quality wire rod steel to Africa

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The leading Vietnamese steel producer Hoa Phat Group has announced that its subsidiary Hoa Phat Hung Yen Steel Company Limited has signed a number of contracts to export its SAE grade high-quality wire rod steel products to Africa, showing success in entering new export markets.

The company expects the first shipments which are around 30,000 mt to be sent to Kenya and Ghana from Hoa Phat Hai Duong Steel integrated Complex in September and October this year. More than 17,000 mt out of a total shipment volume is for the Kenyan market, while the rest will be sent to Ghana.

In the first seven months of the year, Hoa Phat high-quality wire rod export amounted to 160,000 mt, rising by 2.3 times compared to the same period last year and up by 35.5 percent from the SAE products’ total export volume recorded in 2019. The company stated that the US, Japan, Canada, China, Australia, South Korea, Taiwan, Thailand, Malaysia, Indonesia, Cambodia, Brunei, the Philippines and Singapore are its major export markets. The company also noted that its high quality wire rod steel products meet all the strictest standards, so it can easily penetrate into other markets.

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