Hoa Phat sold nearly 500,000 tonnes of steels in August

01/09/2020 10:26

In August 2020, Hoa Phat construction steel supplied nearly 500,000 tonnes of steels to the market, including over 320,000 tonnes of finished steel products and 170,000 tonnes of steel billet. This was an impressive sale in the context of economic difficulties both in Vietnam and the world due to the COVID-19 pandemic.

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In the context of economic difficulties both in Vietnam and the world due to the COVID-19 pandemic, Hoa Phat construction steel still recorded an impressive sale

The steel sale last month rose 65 per cent from the same period last year. Of which, the sale in the southern region reached 76,000 tonnes, double than that of August 2019. The steel export reached 54,000 tonnes, 3 times higher than the corresponding period last year.

Despite of unfavorable weather and social distancing in many localities including Da Nang, Quang Nam, Quang Ngai and Hai Duong due to COVID-19, ... Hoa Phat steel consumption in the civil sector still was at a high level. Public investment projects such as renovation and upgrading project of Noi Bai International Airport, Tan Son Nhat, many wind power projects, solar power projects, schools and hospitals have actively been implemented and selected products of the leading steel producer in Vietnam. It were these factors that have helped Hoa Phat achieve a high yield.

In the first eight months of the year, Hoa Phat reached output of 3,2 million tonnes, in which finished steel steel surpassed 2,1 million tonnes, and the rest was steel billet. Construction finished steel output representing 18.3 per cent year-on-year increase. The southern region posted the record output of 500,000tonnes in the 8 months for the first time and double than that of the same period last year. The steel exports in the January-August period was 17 per cent higher than the total of the whole last year with 310,000 million tonnes, two times higher than the corresponding period last year. Hoa Phat’s steel main import markets include Japan, South Kore, Malaysia, Australia, Canada, Thailand, Cambodia and Laos.

Among its export markets, Malaysia saw the best growth rate. The total export orders delivered to Malaysia till November 2020 was over 50,000 tonnes, up 6.3 times. In addition, Hoa Phat Steel has exploited a number of new markets such as Kenya, Ghana (Africa), China, and Taiwan.

In addition to finished steel products, Hoa Phat has signed a contract to sell nearly 1.5 million tonnes of steel billet to both domestic and foreign markets delivered till November. By the end of August, the sale amount of steel billet was over 1 million tonnes, of which 66 per cent was produced at Hoa Phat Dung Quat Iron and Steel Complex.

With the advantage of steel production from iron ore and modern blast furnace technology, oxygen blowing furnace, Hoa Phat steel products have high purity, no impurities and meeting all the most strict technical standards. In Vietnam, Hoa Phat is the only steel manufacturer that can produce high quality coil for wire drawing and welding rod core. Specially, The No 3 blast furnace of the Hoa Phat Dung Quat Iron and Steel integrated Complex was put into production on August 24, allowing Hoa Phat to start supplying HRC products to the market in this September.

Nghi Tran

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