Hoa Phat’s steel sales reached 500,000 tons in March

In March 2023, Hoa Phat Group produced 440,000 tons of crude steel, increasing 6 per cent compared to the previous month. Its sales of steel billet, construction steel and hot rolled coil (HRC) reached 500,000 tons, posting 5 per cent month-on-month increase.

Hoa Phat Group supplied the market with 869,000 tons of construction steel and high-quality steel in the first quarter of the year

In which, Hoa Phat Group supplied to both domestic and foreign markets 282,000 tons of construction steel and high quality wire rod, equivalent to that of February but reduced 45 per cent over the same period last year. This was mainly because the demand in both domestic and export markets was still low compared to the previous year while the real estate market has not shown signs of recovery.

HRC output in March was 210,000 tons, up 13 per cent compared to February, of which the export volume was 30,000 tons to the markets of Indonesia and Malaysia. It is expected that in April, HRC exports will be increased sharply to countries in Europe and Asia.

In addition, Hoa Phat Group's downstream steel products recorded nearly 53,000 tons of steel pipes and 22,000 tons of coated steel sheets, reducing 41 per cent and 39 per cent respectively compared to the same period last year.

In the first quarter of 2023, Hoa Phat Group produced 1.2 million tons of crude steel, posting 42 per cent year-on-year decrease. Sales volume of construction steel, steel billet and HRC reached 1.37 million tons, reducing 37 per cent from the corresponding period last year.

Hoa Phat Group is expected to deliver a large volume of hot rolled coil for exports in April

In the first quarter of the year, construction steel reached 869,000 tons, down 35 per cent. Hot rolled coil sales reached 482,000 tons, equivalent to more than 60 per cent over the same period last year. Hoa Phat Group also provided over 26,000 tons of steel billet for other steel mills in Vietnam.

Steel pipes and galvanized steel products supplied to the market in the first 3 months of the year were 160,000 tons and 69,000 tons, respectively, reducing 23 per cent and 34 per cent respectively compared to the same period of 2022.

Hoa Phat's crude steel capacity reaches 8.5 million tons a year, the largest in Southeast Asia. In the coming time, the group will closely monitor market developments to regulate production in the most appropriate and effective way.

                                                                                          HPG News