Hoa Phat construction steel output in May increased by 32% compared to the previous month

Construction steel alone reached 393,000 tons, up 32% over the previous month and up 21% over the same period in 2021.

In the past month, construction steel export activity recorded positive results with 167,000 tons, more than 2 times higher than the same period last year, making an important contribution to the above output growth. In addition to finished steel, Hoa Phat also provides 63,000 tons of billet for domestic and foreign markets.

With hot rolled coil (HRC) products, May output reached over 200,000 tons, down 10% over the same period last year. The market for HRC downstream products such as steel pipes and galvanized steel is still slow, leading to lower consumption of hot rolled coil materials compared to the same period and April 2022.

Specifically, Hoa Phat steel pipe reached 51,000 tons, up 17% compared to the previous month but down 20% over the same period. The consumption of coated steel sheet is equivalent to 54% over the same period and last month.

Accumulated in the first 5 months of the year, Hoa Phat Group has produced 3.6 million tons of crude steel, up 10% over the same period. Sales volume of billet, construction steel and HRC reached 3.4 million tons, up 5%. Construction steel contributed 2 million tons, up 26% compared to 5 months of 2021, of which 631,000 tons were exported, more than 2 times higher than the same period last year. HRC recorded 1.2 million tons, up slightly year-on-year.

In addition, Hoa Phat also provides over 300,000 tons of steel pipes, 152,000 tons of coated steel sheets for domestic and foreign markets.

Currently, Hoa Phat Group has a crude steel capacity of 8.5 million tons/year, including 5.5 million tons of billet, construction steel and 3 million tons of HRC/year. Hoa Phat holds the No. 1 market share in Vietnam for construction steel, steel pipes and is the only Vietnamese enterprise that can produce hot-rolled coils.

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