Hoa Phat Group sees highest sale in construction steel so far this year

Hoa Phat Group sold nearly 558,000 tonnes of steel in September, reducing 7 per cent over the same period last year. The sales of construction steel, hot rolled coil steel (HRC) and steel billets rose by 7 per cent from the previous month to reach 596,000 tonnes. Of which the volume of construction steel hit 352,000 tonnes, up 15 month-on-month and the highest since the beginning of this year.

The sales of construction steel and high quality hot rolled coil steel saw the highest since the beginning of this year

The market demand for steel products in general has been still low and has not been improved. However, the sales of Hoa Phat’s construction steel in September was still slightly increased than the previous month, partly thanks to transportation projects such as the North-South expressway and new airport projects which are being accelerated progress. On the other hand, the amount of construction steel and high quality steel exported recorded 90,000 tons.

In September, hot rolled steel coil reached 234,000 tons which was approximately the previous month's sales level. Hoa Phat Group has developed both domestic and export markets to diversify consumption channels.

Hoa Phat's HRC downstream products including steel pipes and galvanized steel sheets reached more than 48,000 tons and 20,000 tons last month, respectively, up 20 per cent and 75 per cent compared to August.

In the first 9 months of 2023, Hoa Phat Group produced 4.8 million tons of crude steel, posting 21 per cent year-on-year decrease. Sales output of all types of steel (excluding steel pipe and galvanized steel products) reached 4.6 million tons, reducing 19 per cent over the same period last year.

In the 9-month period, Hoa Phat's construction steel and high quality steel recorded 2.57 million tons, reducing 25 per cent over the corresponding period last year. Of which the export market contributed nearly 490,000 tons. HRC products reach nearly 2 million tons, representing 3 per cent year-on-year decrease.

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