[Hoa Sen Expands to India Amid Tightening Export Barriers]

Published: Jul 20, 2026 18:24

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In July 2026, Hoa Sen Group (HSG)'s board approved setting up a representative office in Mumbai, opening a foothold in one of the world's fastest-growing steel demand markets. Mr. Le Duc Tung was appointed to head the new office.

The move comes as Hoa Sen's coated steel (galvanized sheet) exports face mounting headwinds in key markets, the US, Canada, Brazil, and the EU all maintain trade defense measures. Per data from the Vietnam Steel Association (VSA), Hoa Sen's Q1/2026 coated steel sales volume fell 19% yoy, driven mainly by a 41% export slump

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