Hoa Phat supplied 402,000 tons of steel in January

In January 2023, Hoa Phat Group produced 392,000 tons of crude steel, equivalent to 56% compared to the same period in 2022. Sales volume of construction steel, billet and hot rolled coil (HRC) reached 402,000 tons, representing 64 % compared to the first month of the previous year.

Hoa Phat will adjust production and sales volumes according to market demand

Both New Year's holiday and Lunar New Year's holiday occurred in January. Therefore, the demand for construction materials in general and steel in particular was low. With that being said, production and sales volume both decreased significantly over the same period.

In the above output, construction steel and high quality wire rod contributed 304,000 tons, a decrease of 20% compared to January 2022. HRC reached 86,000 tons, of which 4,600 tons were exported to the Thai market. Additionally, Hoa Phat also supplies billet to other steel rolling mills in Vietnam, amounting to nearly 13,000 tons.

At the beginning of 2023, Hoa Phat's steel exports received a positive signal with many export orders to markets, such as the US, Canada, Mexico, Puerto Rico, Australia, Malaysia, and Hong Kong. Kong, Cambodia… Steel export output (rebar, wire rod for construction, high quality wire rod) in January reached 46,000 tons.

 Regarding downstream products, Hoa Phat steel pipe recorded more than 53,000 tons, an increase of 6% compared to the first month of 2022. Galvanized steel sheets of all kinds reached 21,000 tons, equivalent to 50% compared to the same period in 2022.

The current steel production capacity of the Group is 8.5 million tons of steel per year. Based on the market situation, Hoa Phat Group is adapting its production and business plan according to market developments in a flexible manner. This allows it to optimize efficiency and production costs in accordance with market developments. With solid financial capacity, the Group continues to implement the Hoa Phat Dung Quat Steel Integrated Complex 2 project on schedule in order to catch up the market demand in some years later.

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