Construction steel output in May posted 32 per cent month-on-month increase

08/06/2022 11:00

In May 2022, Hoa Phat Group produced 780,000 tons of crude steel, up 16 per cent over the same period last year. Total sales of steel billet, construction steel and hot rolled coil (HRC) reached 660,000 tons, posting 10 per cent year-on-year increase. The output of construction steel alone reached 393,000 tons, up 32 per cent over the previous month and 21 per cent over the same period in 2021.

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Construction steel output in May increased 32 per cent from the previous month

Last month, construction steel export activity recorded positive results with 167,000 tons, more than 2 times higher than the same period last year, making an important contribution to the above output growth. In addition to finished steel, Hoa Phat Group also provided 63,000 tons of steel billet for domestic and foreign markets.

With hot rolled coil (HRC) products, the output in May reached over 200,000 tons, reducing 10 per cent compared to the same period last year. The market for HRC downstream products such as steel pipes and galvanized steel is still slow, leading to lower consumption of hot rolled coil materials compared to the same period last year and the previous month.

Specifically, Hoa Phat Group’s steel pipe reached 51,000 tons, up 17 per cent compared to the previous month but reduced 20 per cent over the same period last year. The consumption of coated steel sheet is equivalent to 54 per cent over the same period last year and the previous month.

In the first 5 months of the year, Hoa Phat Group produced 3.6 million tons of crude steel, posting 10 per cent year-on-year increase. Sales volume of steel billet, construction steel and HRC reached 3.4 million tons, up 5 per cent over the same period last year. Construction steel contributed 2 million tons, up 26 per cent compared to the same period of 2021, of which 631,000 tons were exported, more than 2 times higher than the same period last year. HRC recorded 1.2 million tons, up slightly year-on-year.

In addition, Hoa Phat Group also provided over 300,000 tons of steel pipes, 152,000 tons of coated steel sheets for both domestic and foreign markets.

Currently, Hoa Phat Group has a crude steel capacity of 8.5 million tons a year, including 5.5 million tons of steel billet, construction steel and 3 million tons of HRC a year. Hoa Phat Group holds the No 1 market share in Vietnam for construction steel, steel pipes. The group is the only Vietnamese enterprise that can produce hot-rolled coils (HRC).

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