Hoa Phat steel sales reach new record of 522,000 tonnes in September

In September 2020, Hoa Phat Steel posted sales of 522,000 tonnes, reaching output of 352,000 tonnes of finished steel and 170,000 tonnes of steel billet in a month for the first time. The finished steel consumption rose by 82,3 per cent from the same period last year, of which exports were double with 62,700 tonnes.

Hoa Phat steel sales in the first 9 months of the year reached more than 4 million tonnes of crude steel, 2 times higher than the corresponding period last year. Of which, the consumption of construction steel was nearly 2,5 million tonnes while the remaining was steel billet and hot-rolled coil (HRC). The finished steel sale posted 27 per cent year-on-year increase. Its steel market share continued to take the leading position in the market with 32.6 per cent.

The steel sale in the southern region reached around 600,000 tonnes in the January-September period, over 2 times higher than the same period last year. Hoa Phat construction steel products have been used at many public investment projects and constructions such as south of Trung Luong-My Thuan Expressway, Song Hau 1 Thermal Power (Hau Giang), GemaLink International Port (Cai Mep - Vung Tau), hospital projects, wind and solar power plants etc.

With the sudden surge in output in the South, the proportion of Hoa Phat steel sales has changed sharply in the direction of strongly increasing in the South and exports. In 2016, its steel sale in the South only accounted for 10 per cent of the total output. However, in the first 9 months of 2020, the sale was increased by 23 per cent, nearly a quarter of the total sales of Hoa Phat finished steel.

Hoa Phat shipped more than 370,000 tonnes of construction steel in the first 9 months of the year, representing 95 per cent year-on-year increase. Its major import markets include Japan, South Korea, Malaysia, Australia, Canada, Thailand, Cambodia and Laos. The total volume of Hoa Phat’s steel billet that exported under the signed contracts reached 1,25 million tonnes.

Hoa Phat Steel has always been favored thanks to its advantages of iron ore production and blast furnace technology, modern oxygen blasting furnace with high purity, clean impurities, meeting all the most stringent technical standards. In addition to construction steel, Hoa Phat Dung Quat Iron and Steel Complex is increasingly improving HRC product output and quality. The HRC output reached 230,000 tonnes, contributing to the autonomy of raw materials for the group's steel pipe and galvanized steel factories so far.

 Nghi Tran