In particular, construction steel and high-quality steel sales increased by 24% compared to the previous month, reaching 471,000 tons. This increase in construction steel sales was driven by increased demand for civil construction and public investment projects. Additionally, low stock levels at agents and distributors in April caused Hoa Phat steel distribution units to import more goods into the market. This led to increased consumption of Hoa Phat construction steel in all three regions; An increase of 73% was recorded in the North and 37% in the Central region.
Hot rolled steel production decreased by 4% to 252,000 tonnes compared to March 2024. Besides, Hoa Phat Group supplied 70,000 tons of steel pipes and 48,000 tons of various galvanized steel sheets to the market in April.
In the first four months of the year, sales of construction steel, hot rolled steel and steel billets reached 2.65 million tons. Hoa Phat exported 952,000 tons of steel during this period. Export activities supported product consumption in a period when the domestic market was stagnant, while also diversifying sales channels.
Hoa Phat Steel Pipe recorded production of 201,000 tons from the beginning of the year to the end of April, a 4% decrease compared to the same period in 2023. All kinds of galvanized steel sheets reached 146,000 tons. Hoa Phat Group is the largest steel producer in Vietnam and Southeast Asia with a crude steel capacity of 8.5 million tons/year. According to a report by the Vietnam Steel Association, Hoa Phat holds the No. 1 market share in construction steel and steel pipes and is one of the top 5 galvanized steel producers in Vietnam.
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