Hoa Phat’s steel sales reached 439,000 tonnes in February

The total steel sales of Hoa Phat Group in February reached 439,000 tonnes. Of which, the sales of construction steel was 189,000 tonnes while those of hot rolled coil and steel billet were 175,000 and 75,000 tonnes respectively.

The group’s steel sales last month were reduced from the same period last year as the Tet (Lunar New Year) Holiday was prolonged for a month and the complicated developments of the COVID-19 pandemic in many localities nationwide. However, as March is the peak time for steel consumption, the group has prepared a good inventory to serve the strong market demand. In fact, sales volume in the first days of this month have been increased dramatically.

Hoa Phat steel products have been continued to receive great attention from major import markets around the world such as the US, Japan, China, Indonesia etc. In particular, the US partners have orders in large volumes.

In the first two months of the year, Hoa Phat's sales volume of finished construction steel, steel billet and hot rolled coil (HRC) reached over 1 million tonnes. Of which, Hoa Phat's finished construction steel reached 376,000 tonnes. The product’s exports was 67,000 tonnes, slightly increasing over the same period last year. The sales of steel billets in both domestic and foreign markets reached 214,000 tonnes. The sale volume of hot rolled coil (HRC) after the first 2 months of the year reached 428,000 tonnes, equivalent to 74 per cent of the total output in 2020.

Hoa Phat’s HRC product reached a relatively high output in February

At the beginning of January 2021, the No 4 blast furnace of Hoa Phat Dung Quat Iron and Steel Complex was put into operation, helping Hoa Phat's total crude steel output reach 627,000 tones in February. This has contributed to compled the group's business and production targets in 2021. Hoa Phat Group set a target of 5 million tonnes of finished construction steel and billet, and 2.7 million tonnes of HRC this year.

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