Hoa Phat sold 2.9 million tonnes of steels to the market in H1

In June 2023, Hoa Phat Group produced 520,000 tonnes of crude steel, reducing 23 per cent compared to the same period last year. Sales of construction steel products, hot rolled coil (HRC) steel, steel billet reached 540,000 tonnes, representing 4 per cent year-on-year decrease in 2022 but the highest level since the beginning of the year.

Hoa Phat supplied 2.9 million tonnes of steels to the market in the first half of the year

Of which, construction steel output in June recorded 286,000 tonnes, reducing 18 per cent compared to the same period last year but slightly increased compared to the previous month. This result was mainly due to the high growth in sales volume of Hoa Phat construction steel in the central and southern regions compared to May, 30 per cent and 69 per cent respectively.

With 251,000 tons, HRC products of Hoa Phat Dung Quat Iron and Steel Production Complex reached the highest level from November 2022 and increased 24 per cent compared to the same period last year. The increased demand of steel pipe and galvanized steel mills in the northern and central markets has contributed to a significant improvement in hot rolled coil output last month.

HRC downstream products including steel pipes and galvanized sheet of Hoa Phat Group also increased slightly compared to the previous month. This was also the highest level since the beginning of the year. Particularly, the output of steel sheet products in June increased by 42 per cent over the same period last year.

In the first half of the year, Hoa Phat Group produced 2.86 million tonnes of crude steel, down 34 per cent compared to the same period last year. Sales volume of construction steel, steel billet and HRC reached 2.9 million tonnes, reducing 27 per cent compared to the corresponding period last year.

In the first half of the year, the group's construction steel reached more than 1.6 million tonnes, posting 30 per cent year-on-year decrease. In addition to finished steel, Hoa Phat Group also provided 36,000 tonnes of steel billets to other steel mills in Vietnam.

The group supplied 1.2 million tonnes of HRC steel to both domestic and foreign markets in the six-month period, reducing 15 per cent over the corresponding period last year. The products have been exported to some countries and territories in Europe and Asia. Hoa Phat’s steel pipe and corrugated iron achieved output of 325,000 tonnes and 175,000 tonnes, respectively, reducing slightly compared to the first half of 2022.

In Vietnam, Hoa Phat Group holds the No. 1 market share in construction steel (32 per cent), steel pipes (27 per cent). Galvanized steel is in the Top 5 largest manufacturers. The group is currently the only Vietnamese enterprise that can produce HRC steel and pre-stressed steel cables (PC Strand), contributing to reduce dependence on imported steel sources.

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