Hoa Phat achieves record-high output of construction steel and high-quality steel so far this year

In April 2024, Hoa Phat Group produced 738,000 tons of crude steel, slightly decreased compared to the previous month. Sales of steel billets, construction steel, and hot rolled coil (HRC) products reached 805,000 tons, an increase of 16 per cent compared to March 2024. Of which construction steel and high quality steel alone reached 471,000 tons, posting 24 per cent month-on-month increase.

Hoa Phat’s construction steel and high quality steel reached the record high output since the beginning of the year (Photo: Hồ Như Ý)

The sales output of construction steel experienced a significant increase, driven by the rising demand for civil construction and public investment projects. Furthermore, Hoa Phat's distribution units imported additional goods to meet the market's needs as inventory levels at agents and distributors reached a low point in April. Consequently, Hoa Phat witnessed a remarkable boost in construction steel consumption across all three regions, with the most substantial growth recorded in the North at 73 per cent and the Central region at 37 per cent.

In terms of hot rolled steel (HRC), the output reached 252,000 tons, marking a slight decrease of 4 per cent compared to the previous month. However, the group also supplied various downstream HRC products, including 70,000 tons of steel pipes and 48,000 tons of galvanized steel sheets, to the market in April.

In the first four months of the year, the cumulative sales output of construction steel, HRC steel, and steel billets reached 2.65 million tons. Notably, Hoa Phat exported 952,000 tons of steel, encompassing construction steel, high-quality steel, HRC steel, and steel billets. Exporting has played a crucial role in supporting product consumption during a period when the domestic market has not fully thrived. It has also served to diversify sales channels for the company.

In the first four months of the year, the cumulative sales output of construction steel, high quality steel, HRC steel, and steel billets reached 2.65 million tons. (Photo: Hồ Như Ý)

In the four-month period, Hoa Phat Steel Pipe recorded an output of 201,000 tons, down 4 per cent compared to the same period in 2023. Galvanized steel sheets of all kinds reached 146,000 tons.

With a current capacity of 8.5 million tons of crude steel a year, Hoa Phat Group is the largest steel manufacturer in Vietnam and Southeast Asia. According to a report by the Vietnam Steel Association, Hoa Phat holds the No. 1 market share in construction steel and steel pipes and is among the Top 5 largest galvanized steel manufacturers in Vietnam.

Hoa Phat Dung Quat 2 Iron and Steel Production Complex project has completed over 50 per cent of the main items

The group is focusing its efforts on building the Hoa Phat Dung Quat 2 Steel Integrated Complex project, with a scale of 5.6 million tons of hot rolled steel per year. It is expected that when completed, Hoa Phat's crude steel production capacity will reach over 14 million tons a year, equivalent to the Top 30 largest steel enterprises in the world.

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