Vietnam’s Hoa Phat posts record monthly sales for March

Tuesday, 06 April 2021 13:42:25 (GMT+3)   |   Istanbul
       

Vietnam-based steelmaker Hoa Phat Group has announced that its total steel sales reached more than one million mt in March this year. This record monthly sales level was due to improved capacity as the trial operation of blast furnace No. 4 at Hoa Phat Dung Quat Iron and Steel Complex has been increasingly stable since January this year. In addition, this is the peak time for the civil construction market as infrastructure projects have been accelerated nationwide.

In the given month, the company sold 480,000 mt of construction steel, 178,000 mt of billet, 238,000 mt of hot rolled coil (HRC) and 90,000 mt of steel pipe, up by 36 percent, 32 percent, 36 percent and 73 percent, all year on year, respectively. The company’s galvanized steel sales totaled 31,000 mt in March this year, four times higher compared to the same month last year. In addition, the company’s exports of finished steel reached 80,000 mt, increasing by 18 percent year on year.  

In the first quarter this year, Hoa Phat achieved a steel sales volume of more than 2.16 million mt. In the given quarter, the company’s construction steel sales totaled 855,000 mt up by more than 17 percent, of which finished steel exports totaled 147,000 mt, up by 10 percent, both year on year. The company’s billet exports in the first three months amounted to over 386,000 mt, increasing by 27 percent year on year, while its HRC sales totaled 665,000 mt, up by 75 percent year on year. In the given period, Hoa Phat’s steel pipe sales totaled 184,000 mt, representing a 27 percent increase year on year. Meanwhile, the company’s galvanized steel sales in the given quarter increased strongly.

Meanwhile, in 2021, Hoa Phat Group aims to produce 2.7 million mt of hot rolled coil, 920,000 mt of steel pipes, 300,000 mt of galvanized steel and over five million mt of construction steel and billet. 


Most Recent Related Articles

Vietnam’s Nam Kim Steel posts record export volume for Q1

EU import quotas for certain steel products already exhausted in new quota period

Vietnam’s Hoa Phat to invest in 5.6 million mt steel project

Indian HRC suppliers target prices above $800/mt CFR in Vietnam

Japanese crude steel output down 5.7% in February from January