Vietnamese steel giant Hoa Phat Group has achieved a sales volume of 628,000 tonnes of construction steel, billet and hot rolled coil in August 2022. Construction steel reached 386,000 tonnes, up 44% YoY while HRC reached 233,000 tonnes, up 56% YoY. In August 2022, Hoa Phat steel pipe reached an output of nearly 64,000 tonnes, up 60% YoY. Construction steel output has been at a high level mainly due to an improvement in the domestic consumption market after previous months. Sales activities in all three regions increased dramatically, the North recorded an increase of 54%, the Central region increased 39% and the South doubled up compared to the same period. Meanwhile, the market's demand for steel pipes and galvanized steel products is improving, and Hoa Phat's hot-rolled coil sales volumes experienced a sharp rise in comparison to July 2022. Specifically, Hoa Phat's steel pipe products recorded nearly 64,000 tonnes, an increase of 60% over the same period. Hoa Phat’s galvanized steel sheets reached 28,000 tonnes, fell 5% to August 2021 but raised 60% to July 2022.In the cumulative of eight months of 2022, Hoa Phat Group produced 5.5 million tonnes of crude steel, an increase of 2% from the same period in 2021. Billet, mild steel and HRC sales reached 5.14 million tonnes, growing 5% in the first period. Construction steel contributed 27% to 3.1 million tonnes, of which 32% was exported at 990,000 tonnes, an increase of 82% compared to eight months in 2021. Over the past eight months, Hoa Phat has supplied the market with 1.8 million tonnes of HRC, up 3% YoY. Downstream products such as steel pipes and coated steel sheets of the Group reached 491,000 tonnes and 226,000 tonness, up y 5-7% YoYHoa Phat said “The steel consumption market is expected to turn positive by the end of the year as the Government has taken a number of measures during the peak construction season to boost public investment spending and major project progress.”The capacity of Hoa Phat Group's crude steel production reaches 8.5 million tonnes per year. Moreover, Hoa Phat construction steel and steel Pipe occupies 36.4% and 29% market share respectively in Vietnam. Besides serving the domestic market, the group also exports steel products to more than 20 countries and regions around the world in order to diversify the consumption market.
Vietnamese steel giant Hoa Phat Group has achieved a sales volume of 628,000 tonnes of construction steel, billet and hot rolled coil in August 2022. Construction steel reached 386,000 tonnes, up 44% YoY while HRC reached 233,000 tonnes, up 56% YoY. In August 2022, Hoa Phat steel pipe reached an output of nearly 64,000 tonnes, up 60% YoY. Construction steel output has been at a high level mainly due to an improvement in the domestic consumption market after previous months. Sales activities in all three regions increased dramatically, the North recorded an increase of 54%, the Central region increased 39% and the South doubled up compared to the same period. Meanwhile, the market's demand for steel pipes and galvanized steel products is improving, and Hoa Phat's hot-rolled coil sales volumes experienced a sharp rise in comparison to July 2022. Specifically, Hoa Phat's steel pipe products recorded nearly 64,000 tonnes, an increase of 60% over the same period. Hoa Phat’s galvanized steel sheets reached 28,000 tonnes, fell 5% to August 2021 but raised 60% to July 2022.In the cumulative of eight months of 2022, Hoa Phat Group produced 5.5 million tonnes of crude steel, an increase of 2% from the same period in 2021. Billet, mild steel and HRC sales reached 5.14 million tonnes, growing 5% in the first period. Construction steel contributed 27% to 3.1 million tonnes, of which 32% was exported at 990,000 tonnes, an increase of 82% compared to eight months in 2021. Over the past eight months, Hoa Phat has supplied the market with 1.8 million tonnes of HRC, up 3% YoY. Downstream products such as steel pipes and coated steel sheets of the Group reached 491,000 tonnes and 226,000 tonness, up y 5-7% YoYHoa Phat said “The steel consumption market is expected to turn positive by the end of the year as the Government has taken a number of measures during the peak construction season to boost public investment spending and major project progress.”The capacity of Hoa Phat Group's crude steel production reaches 8.5 million tonnes per year. Moreover, Hoa Phat construction steel and steel Pipe occupies 36.4% and 29% market share respectively in Vietnam. Besides serving the domestic market, the group also exports steel products to more than 20 countries and regions around the world in order to diversify the consumption market.
