Hoa Phat’s steel sales reaches 635,000 tonnes in October

In October, Hoa Phat Group produced 619,000 tons of crude steel, reducing 3% compared to the previous month. Sales output of hot rolled coil steel (HRC) products, construction steel, and steel billet reached 635,000 tons, posting 7% month-on-month increase. Of which, HRC recorded over 273,000 tons, increasing 17% over September. 

Hot rolled steel coil sales last month were high mainly due to better demand for downstream products in the southern market and exports compared to the previous month. The clearest evidence is that Hoa Phat's HRC downstream products such as steel pipes and galvanized steel sheet in October also increased by 11% and 25% respectively compared to the previous month. Specifically, Hoa Phat steel pipes reached 54,000 tons while steel sheet recorded 26,000 tons.

Hoa Phat’ galvanized steel sheet sales in October increased by 25% compared to the previous month

Hoa Phat Group supplied 339,000 tons of construction steel and high quality steel products to the market, posting 4% month-on-month decrease. Of which, export output was 110,000 tons, up 23% over the previous month. For the first time in many months, Hoa Phat Group received orders to export steel billets to the international market.

In the first 10 months of 2023, Hoa Phat Group produced 5.43 million tons of crude steel, reducing 18% over the same period in 2022. Sales of HRC products, construction steel, high quality steel, and steel billets reached 5.25 million tons, representing 15% year-on-year decrease.

Specifically, sales output of construction steel and high quality steel recorded 2.9 million tons, down 21%, of which export volume was reduced by 44% to 600,000 tons.

In the first 10 months of the year, Hoa Phat supplied 2.25 million tons of hot rolled coils to the market, reducing 2% over the corresponding period last year. The group's steel pipe products reached nearly 543,000 tons, posting 13% year-on-year decrease. Hoa Phat's galvanized steel sheets decreased by 3% with an output of 266,000 tons.

According to a report by the Vietnam Steel Association released in October, Hoa Phat Group holds the leading market share in construction steel and steel pipes with 33.27% and 27.34% respectively. The group's galvanized steel sheet products maintain the Top 5 in terms of sales market share in Vietnam.

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