Hoa Phat’s construction steel sales surged by 2.3 times in February

In February 2022, Hoa Phat’s construction steel sales volume reached 450,000 tons, up 2.3 times over the same period last year and 17 per cent compared to the previous month. In which, the export of construction steel reached 60,000 tons, nearly double the same period last year. Hoa Phat’s construction steel has received export orders until May 2022 with total volume of 720,000 tons.

Hoa Phat’s construction steel sales were up 2.3 times over the same period last year

With 250,000 tons, the Northern region recorded a sudden increase of nearly 3 times over the same period last year, accounting for 56 per cent of total sales of Hoa Phat’s construction steel last month. The central and southern regions also recorded strong growth, representing 2.5 and 1.5 times respectively over the corresponding period last year.

According to Mr. Kieu Chi Cong - Director of Hoa Phat Hung Yen Steel Company Limited, Hoa Phat's factories are operating at maximum capacity to serve both domestic and foreign demand. Sales volume in February increased strongly mainly due to high demand for civil construction at the beginning of the year, especially in the North. Every year after Tet (Lunar New Year), the dry weather is often chosen by people to build new house or repair their house.

The demand from public investment projects is also increasing, such as Vinh Tuy Bridge’s phase 2 (in Hanoi), construction packages on North-South Expressway, Trung Luong - My Thuan Expressway, large hospitals in Ho Chi Minh City, Tan Son Nhat airport repair project.

In the first two months of the year, Hoa Phat’s construction steel sales reached 828,000 tons, an increase of 2.2 times compared to the same period in 2021. In which, the amount of exxported construction steel reached 174,000 tons, 2.6 times higher than the same period last year. Its main markets include Singapore, Hong Kong, Canada, Japan, South Korea and Cambodia etc.

With the market showing many positive signals, it is expected that Hoa Phat's finished construction steel sales volume in 2022 will grow by over 20 per cent compared to 2021.

HPG News