Hoa Phat construction steel output increased over 16% compared to the same period

In September 2019, Hoa Phat construction steel output reached over 193,000 tons, equivalent to the previous month's output. In the cumulative of 9 months, Hoa Phat steel produced nearly 2 million tons, increased 16.1% compared to the same period last year. The market share of Hoa Phat Steel is firmly at the number 1 position in Vietnam.

In the past 9 months, sales volume in the South dramatically increased, almost doubled in the same period last year with 280,000 tons. Next is the Central region with nearly 300,000 tons, increased 53% compared to 9 months of 2018.

In export segment, Hoa Phat's high quality wire rod has been well received in the international market, especially Japan, Cambodia and some other countries. Total export from the beginning of the year to now has reached 191,600 tons, increased 32%, accounting for nearly 10% of total sales.

Along with finished steel, Hoa Phat also supplies billet to domestic rolling mills. Particularly in September 2019, the Group signed a contract to supply 30,000 tons of billets to partners in the same industry.

According to Mr. Dinh Quang Hieu - Manager of Hoa Phat Steel Sales Department, the total demand of construction steel recently is not strong due to the influence of macro factors, rainy weather, so both civil and projected construction activities are quiet. These are the main factors that make the sales volume of enterprises in the industry does not grow much compared to the same period.

By the end of September, the total amount of crude steel (billet) produced by Hoa Phat had reached 2 million tons. Hoa Phat Hai Duong Steel integrated Complex accounted for 1.71 million tons, increased 20.4% compared to the same period. The No. 1 blast furnace of Hoa Phat Dung Quat Steel Integrated Complex is gradually proving the output, helping the steel rolling line take initiative in the source of billet for production step by step.

In 2019, Hoa Phat Group aims to produce 2.7 million tons of construction steel, supplied to both domestic and foreign markets. Hoa Phat's products are assessed to be of the highest quality, diversified in types and grades of steel.

Nghi Tran