Hoa Phat Sale Hits 1 Million Tonne Mark in March 2021
Vietnamese steel maker Hoa Phat Group achieved sales volume of over record 1 million tonnes of steel products of all kinds, including steel billets,
Vietnamese steel maker Hoa Phat Group achieved sales volume of over record 1 million tonnes of steel products of all kinds, including steel billets, construction steel, hot rolled steel, steel pipes and galvanized steel in March 2021,. This is the record sales in 1 month of Hoa Phat ever. Hoa Phat attributed record monthly sales to significant increase in capacity after starting blast furnace No 4 at Hoa Hoa Iron and Steel Complex Phat Dung Quat in January 2021.
March Sales Breakup
Construction steel - 480,000 tonnes, up 36% YoY
HRC - 238,000 tonnes, up 36% MoM
Steel pipes - 90,000up tonnes, up 73% YoY
Exports in March
Finished steel - 80,000 tonnes, up 18% YoY
Steel billet - 238,000 tonnes, up 36%YoY
In the first quarter of 2021, Hoa Phat Group achieved sales volume of more than 2.16 million tonnes of various types of steel. Finished construction steel reached 855,000 tonnes, up more than 17%, of which finished steel products for export was 147,000 tonnes, up 10%. Exported steel billet was over 386,000 tonnes, up 27% compared to the first quarter of 2020. HRC products in the first quarter of the year reached 665,000 tonnes, an increase of 75% compared to the fourth quarter of 2020. Hoa Phat Steel Pipe recorded 184,000 tonnes after the first 3 months of the year, up 27%. Meanwhile, the Group's sales volume of galvanized steel sheet also increased strongly year-on-year.
Hoa Phat's output target for steel products in 2021 is 5 million tonnes of finished construction steel and steel billet; 2.7 million tonnes of HRC, 920,000 tonnes of steel pipes and 300,000 tonnes of galvanized steel sheets.