Hoa Phat provides more than 5 million tons of steel in 8 months of 2022

In August 2022, Hoa Phat Group achieved a sales volume of 628,000 tons of construction steel, billet, and hot rolled coil (HRC). Construction steel reached 386,000 tons, raising 44% compared to the same period in 2021. HRC reached 233,000 tons, growing 56% compared to July 2022 but slightly decreased compared to August 2021. 

Over 8 months, Hoa Phat construction steel reached 3.1 million tons, up 27%, of which exports accounted for 32% with 990,000 tons.

Construction steel output has been at a high level mainly due to an improvement in the domestic consumption market after previous months. Sales activities in all three regions increased dramatically, the North recorded an increase of 54%, the Central region increased 39% and the South doubled up compared to the same period.

Meanwhile, the market's demand for steel pipes and galvanized steel products is improving, and Hoa Phat's hot-rolled coil sales volumes experienced a sharp rise in comparison to July 2022. Specifically, Hoa Phat's steel pipe products recorded nearly 64,000 tons, an increase of 60% over the same period. Hoa Phat’s galvanized steel sheets reached 28,000 tons, fell 5% to August 2021 but raised 60% to July 2022.

In August 2022, Hoa Phat steel pipe reached an output of nearly 64,000 tons, an increase of 60% over the same period last year

The steel consumption market is expected to turn positive by the end of the year as the Government has taken a number of measures during the peak construction season to boost public investment spending and major project progress.

 In the cumulative of eight months of 2022, Hoa Phat Group produced 5.5 million tonnes of crude steel, an increase of 2% from the same period in 2021. Billet, mild steel and HRC sales reached 5.14 million tons, growing 5% in the first period. Construction steel contributed 27% to 3.1 million tonnes, of which  32% was exported at 990,000 tonnes, an increase of 82% compared to eight months in 2021.

Over the past eight months, Hoa Phat has supplied the market with 1.8 million tons of HRC, up 3% over the same period last year. Downstream products such as steel pipes and coated steel sheets of the Group reached 491,000 and 226,000 tons, respectively, increasing about 5-7% over the same period.

The capacity of Hoa Phat Group's crude steel production reaches 8.5 million tons per year. Moreover, Hoa Phat construction steel and steel Pipe occupy 36.4% and 29% market share respectively in Vietnam. Besides serving the domestic market,  The group also exports steel products to more than 20 countries and regions around the world in order to diversify the consumption market.

HPG News