October 2010: Hoa Phat Steel increased 166.3% in compared to September

The exciting of the construction works has created good leverage for Hoa Phat Steel consumption. For October, Hoa Phat output of 59,438 tons, increased by 213.8% over the same period and 166.3% over the previous month. With this result, Hoa Phat Steel occupied 12.1% market share of building steel and maintaining its position as leading steel manufacturer in Vietnam. 

In combination output of 10 month of 2010 reached 474,000 tons, up 165% over the same period in 2009. Expected the remaining months of 2010, Hoa Phat Steel will still maintain this growth and plan complet plan by end of this month 11/2010.

These last months are peak season for consumption of Hoa Phat Steel

About production activities, two rolling mills in October reached 54,279 tons, in which Hoa Phat Steel rolling Factory in Hai Duong produced 26,184 tons. Total of 10 months, 2010, Hoa Phat has produced 484,000 tons of construction steel. The increasing production capacity of Hoa Phat steel Integrated Complex in Hai Duong has contributed to the promotion of sales of Hoa Phat recent months. In addition, the demand of the market with Hoa Phat Steel is great, both in the project area and residential area. Sales activities in the central region and the South also increased continuously.

According to Mr. Nguyen Tien Nghi, Deputy chairman of Vietnam Steel Association (VSA), exchange rate fluctuations between USD and VND has made input costs of steel production higher, causing the possibility of increasing price. “However, November and December are the peak months, so VSA supposes that steel consumption will increase, with estimated 400,000 tonnes each month," Mr Nghi said.

Nghi Trần