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Hoa Phat’s September steel sales hit new record of 522,000 tonnes

Bich Phuong Wednesday | 10/07/2020 14:13

Photo courtesy of Hoa Phat

Hoa Phat posted sales of 522,000 tonnes in September, reaching output of 352,000 tonnes of finished steel and 170,000 tonnes of steel billet in a month for the first time.

Finished steel consumption rose by 82,3 percent from the same period last year, of which exports were double with 62,700 tonnes.

In the Jan.-Sept. period, Hoa Phat steel sales reached more than 4 million tonnes of crude steel, 2 times higher than the same period of last year. Of which, the consumption of construction steel was nearly 2,5 million tonnes while the remaining was steel billet and hot-rolled coil.

The firm’s steel market share continued to take the leading position in the market with over 32 percent.

Steel sale in the southern region reached around 600,000 tonnes in the reported period, two times higher than the same period last year, while construction steel products have been used at several public investment infrastructure projects.

With the sudden surge in output in the South, the proportion of Hoa Phat steel sales has changed sharply in the direction of strongly increasing in the South and exports.

In 2016, its steel sale in the South only accounted for 10 per cent of the total output. However, in the first 9 months of 2020, the sale was increased by 23 per cent, nearly a quarter of the total sales of Hoa Phat finished steel.

Credit: Hoa Phat Group
Credit: Hoa Phat Group

Hoa Phat shipped more than 370,000 tonnes of construction steel in the first 9 months of the year, representing 95 percent year-on-year increase.

Its major import markets include Japan, South Korea, Malaysia, Australia, Canada, Thailand, Cambodia and Laos. The total volume of Hoa Phat’s steel billet that exported under the signed contracts reached 1,25 million tonnes.

Its Hoa Phat Dung Quat Iron and Steel Complex is increasingly improving HRC product output and quality. The HRC output reached 230,000 tonnes, contributing to the autonomy of raw materials for the group's steel pipe and galvanized steel factories so far.

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