Hoa Phat exports 6.6 million tons of steel to the market after 11 months

Construction steel made up 252,000 tons, up 20% from October but down 7% from the same time last year. 180,000 tons of hot rolled coil (HRC), a 12% decrease from the prior quarter, were produced.

Although domestic use of construction steel increased somewhat from the previous month, the export market shrank by more than 70% over the same time.

Due to the calm market, consumption of downstream steel goods is especially challenging. As a result, in November 2022, the output of the steel pipe and the galvanized sheet was 53,000 tons and 22,800 tons, respectively. In particular, 9,000 tons, or 16% more than in November 2021, of galvanized steel was exported.

Hoa Phat Group produced 7 million tons of crude steel throughout the course of 11 months, which is 6% less than it did over the same period in 2021. Construction steel, billet, and HRC consumption totaled more than 6.6 million tons, down 6% overall, mostly due to the absence of billet export orders from the previous year. In, HRC roughly 2.5 million tons, up 6% over the same time, while building steel accounted for 3.9 million tons, up 11%.

Hoa Phat steel pipe sold 688,000 tons in 11 months, an 11% increase. Nearly 300,000 tons of the Group's galvanized steel products were produced, a decrease of more than 20% from the same time the previous year.

On the stock market, HPG shares briefly fell by 1.25% in the morning session of December 6, falling to VND19,750/share.