Hoa Phat Group Sold 383,000 Tonnes of Steels in October
Hoa Phat

Hoa Phat Group Sold 383,000 Tonnes of Steels in October

Hoa Phat Group sold 383,000 tonnes of steels in October including 133,000 tonnes of steel billet and 250,000 tonnes of finished steel, posting 13 per cent

year-on-year increase. The group also shipped nearly 62,000 tonnes of finished steel to foreign markets, 4.3 times higher than the corresponding period last year. During last month, the Central region was continuously affected by storms and floods. Unfavorable weather conditions are the main reason for the slower growth in finished steel consumption compared to the previous month. However, the consumption in the North and the South still saw growth. The Southern market of Hoa Phat steel recorded about 60,000 tonnes in October, up 25 per cent from the same period last year.

Exports of finished steel and steel billets continued to see high growth. Hoa Phat has received big orders from Canada, Malaysia, Japan, Cambodia and Ghana for high quality steel products made from iron ore. Its steel billet sold last month reached more than 133,000 tonnes, mainly exported.

In the first 10 months of the year, Hoa Phat’s steel output reached 4.6 million tonnes of crude steel, 2 times higher than the same period last year. Its sales volume reached nearly 4.14 million tonnes, of which finished construction steel was over 2.7 million tonnes, representing 28.6 per cent year-on-year increase. Finished steel exports reached 435,000 tonnes, more than 2 times higher than the corresponding period last year. The sale of square steel billet was 1.4 million tonnes.

In addition to construction steel, Hoa Phat Dung Quat Iron and Steel Complex has produced a total of more than 340,000 tonnes of hot-rolled coil (HRC) steel, used as input materials for its steel pipe and galvanized steel plants. In which, alone in October, its HRC sale reached more than 112,000 tonnes. From the beginning of November 2020, Hoa Phat started to sell commercial HRC to the market.

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