A representative of Hoa Phat Group informed that in October, Hoa Phat produced 619,000 tons of crude steel, down 3% compared to the previous month. However, sales of hot rolled coil (HRC), construction steel, and steel billets reached 635,000 tons, up 7% compared to September. Of which, HRC recorded over 273,000 tons, up 17%.
Hoa Phat corrugated iron sales increased 25% compared to last month
The high sales results of hot rolled coil steel last month were mainly attributed to the better demand for downstream products in the Southern market and exports compared to September. The clearest evidence is that Hoa Phat's downstream HRC products in October such as steel pipes and galvanized steel sheets also increased by 11% and 25% respectively. Specifically, Hoa Phat steel pipes reached 54,000 tons, Hoa Phat galvanized steel recorded 26,000 tons.
With construction steel and high-quality steel products, Hoa Phat Group supplied 339,000 tons to the market, down 4% compared to September. Of which, export output contributed 110,000 tons, up 23%. For the first time in many months, Hoa Phat has had orders to export steel billets to the international market.
In the first 10 months, Hoa Phat Group produced 5.43 million tons of crude steel, down 18% over the same period in 2022. Sales of HRC products, construction steel, high-quality steel, and steel billets reached 5.25 million tons, down 15% over the same period.
Specifically, sales output of construction steel and high-quality steel recorded 2.9 million tons, down 21%, of which exports contributed 600,000 tons, down 44%.
Over the past 10 months, hot rolled coil steel has supplied the market with 2.25 million tons, down 2% compared to the same period last year. The group's steel pipe products reached nearly 543,000 tons, down 13%. Hoa Phat's galvanized steel products of all kinds decreased by 3% with an output of 266,000 tons.
According to a report released by the Vietnam Steel Association in October, Hoa Phat holds the leading market share in construction steel and steel pipes with 33.27% and 27.34% respectively. The Group's galvanized steel products maintain their position in the top 5 in terms of market share in Vietnam.
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