10,319.96 TRY BIST 100 BIST 100
4.49 CNY CNY CNY
34.99 EUR EUR EUR
32.25 USD USD USD
0.13 CNY CNY/EUR CNY/EUR
42.53 TRY Interest Interest
83.58 USD Fossil Oil Fossil Oil
29.64 USD Silver Silver
4.91 USD Copper Copper
117.33 USD Iron Ore Iron Ore
382.00 USD Ship Dismantling Ship Dismantling
2,467.82 TRY Gold (gr) Gold (gr)

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.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Makiivka Steel produced 89,359 tons of finished products in April

Thursday, May 16, 2024

Saudi pipelines secures dual deals with Aramco worth millions

Thursday, May 16, 2024

Major decline in the housing market: Sales are at their lowest point in 3 years

Friday, May 17, 2024

How the CEO of Emirates Steel Arkan is Transforming Leadership

Saturday, May 18, 2024

Taiwan's Feng Hsin keeps prices stable

Thursday, May 16, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now