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Hoa Phat Group leads steel sales

Update: October, 17/2014 - 09:51
The group also accounted for 19 per cent of the market's steel pipe market share with a total consumption of 152,700 tonnes in the past nine months. — Photo baogiavattu

HA NOI (VNS)—  Viet Nam consumed about 3.8 million tonnes of building steel in the first nine months of 2014, representing an 11.8-per cent year-on-year increase.

Figures from the Viet Nam Steel Asssociation (VSA) showed that in September, total building steel consumption was estimated at 443,200 tonnes, an 8.7-per cent month-on-month increase and a 25.3-per cent year-on-year increase.

The association said the selling prices of building steel last month were lower than those of the previous month because of decreasing prices of materials. VSA predicted selling prices to increase slightly this month, considered the construction season that would witness higher demand for steel.

According to the Viet Nam Prosperity Bank's Securities Company (VPBS), Hoa Phat Group still had the largest market share in the building steel and steel pipe segments with 18 per cent and 19.8 per cent, respectively.

The group also accounted for 19 per cent of the market's steel pipe market share with a total consumption of 152,700 tonnes in the past nine months.

Anti-dumping duty

The General Department of Customs has sent a document to cities and provinces on imposing anti-dumping duty from October 5 on stainless steel products imported from four countries.

The Ministry of Industry and Trade's Decision No 7896/QD-BCT imposes duty ranging from 10.71 per cent to 37.29 per cent on cold-rolled stainless steel products from mainland China, Taiwan, Indonesia and Malaysia. — VNS

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