Hoa Phat's steel sales reached 530,000 tonnes in May, posting 16% increase

In May 2023, Hoa Phat Group produced 565,000 tons of crude steel, reducing 27% over the same period last year. Sales of construction steel, hot rolled coil and steel billet reached 530,000 tons, down 20% compared to May 2022 but up 16% compared to April.

Hoa Phat sold 530,000 tons of steels in May, increasing 16% compared to the previous month

Hoa Phat’s construction steel reached 284,000 tons in May, reducing 27% over the same period last year but up 33% compared to April 2023. Meanwhile, hot rolled coil recorded 243,000 tons, the highest since the beginning of the year and up 19% over the same period last year. 

Its HRC downstream products such as steel pipes and galvanized steel sheet recorded growth over the same period last year. Steel pipes reached over 57,000 tons, up 12% while 34,000 tons of galvanized steel sheets were supplied to domestic and foreign markets, doubled compared to May 2022.

In the first 5 months of the year, Hoa Phat Group produced 2.34 million tons of crude steel, posting 36% year-on-year decrease. Sales of steel products reached 2.36 million tons, down 31% over the same period last year. In which, construction steel reached 1.36 million tons, representing 33% year-on-year decrease. Hot rolled coil recorded 965,000 tons, down 21% compared to the same period last year.

In the five-month period, Hoa Phat Steel Pipe supplied 266,000 tons to the market, down 14%. Sales of another HRC downstream product - galvanized steel sheet reached 136,000 tons, down 11% compared to the same period last year.

Hoa Phat Group has a largest crude steel capacity in Vietnam with 8.5 million tons. The group is the first Vietnamese steel company producing hot rolled coil. At the end of April 2023, Hoa Phat’s construction steel and steel pipe took the lead in the national market shares with 32.2% and 26.7% respectively. Hoa Phat Steel Sheet is in the Top 5 market share.

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