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Hoa Phat's steel sales increased by 32% in two months

Vietnam-based steel giant Hoa Phat Group has witnessed significant growth in steel product sales volume in the first two months of this year.

Hoa Phat's steel sales increased by 32% in two months

According to the company's report, during the January-February period, the quantity of hot-rolled steel products, construction steel, high-quality steel, and steel billets sold increased by 32%, reaching 1.15 million tons. Additionally, there was a 71% increase in raw steel production compared to the same period last year, reaching 1.38 million tons.

However, there was a decrease in steel sales volume in February, mainly due to the extended Lunar New Year holiday period. During this month, Hoa Phat produced 690,000 tons of raw steel, and the sales volume of hot-rolled steel products, construction steel, high-quality steel, and steel billets decreased by 19% compared to January, amounting to 518,000 tons.

Upon examining the company's sales figures for this period, it is evident that there were declines in some products compared to January. For instance, sales of construction steel and high-quality steel decreased by 42%, totaling 212,000 tons, while sales of hot-rolled steel products decreased to 266,000 tons. Other products include 41,000 tons of steel pipes and 32,000 tons of galvanized steel.

Despite being based in Vietnam, Hoa Phat Steel holds a significant position globally. Ranked 53rd among global steel producers, the company produced a total of 7.20 million tons of steel in 2022.

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SteelRadar Insight - Sayı 1 (Haziran 2024)

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