Hoa Phat steel consumption in November decreased by 30% over the same period

In November 2022, Hoa Phat Group (Code: HPG) produced 384,000 tons of crude steel, down 43% compared to the same period in 2021. Sales of steel products reached 443,000 tons, down 30% compared to November last year. . In which, construction steel contributed 252,000 tons, up 20% compared to October and down 7% over the same period. Hot rolled coil (HRC) reached 180,000 tons, down 12% over the same period.

Hoa Phat said that domestic and foreign market demand for steel products in general has not been improved. This is the main reason for the total consumption to drop to the lowest level since the beginning of the year. Domestic construction steel consumption recovered slightly compared to the previous month, but the export market decreased by more than 70% over the same period.

Consumption of downstream steel products is also difficult due to the quiet market. Specifically, the output of steel pipe and galvanized sheet reached 53,000 and 22,800 tons respectively in November 2022. Particularly, the export of galvanized steel is 9,000 tons, equaling 16% compared to November 2021.

Accumulated in 11 months, Hoa Phat Group has produced 7 million tons of crude steel, down 6% compared to 11 months of 2021. Consumption of construction steel, billet, HRC reached more than 6.6 million tons, together down 6%. , mainly because there were no export orders for billet as last year. In which, construction steel accounted for 3.9 million tons, up 11%, HRC nearly 2.5 million tons, up 6% over the same period.

Over 11 months, Hoa Phat steel pipe sold 688,000 tons, up 11%. Galvanized steel products of the Group recorded nearly 300,000 tons, down more than 20% compared to the same period last year.

On the stock market, HPG's stock price is at nearly 20,000 VND/share, 43% lower than the beginning of 2022 but up 65% compared to the bottom on November 10.

Vietnambiz