Hoa Phat consumed over 500 thousand tons of steel in March

(Baoquangngai.vn)- According to Hoa Phat Group, in March 2023, Hoa Phat produced 440 thousand tons of crude steel, an increase of 6% compared to February 2023. Sales of steel billets, construction steel, and hot rolled coil (HRC) reached 500 thousand tons, an increase of 5% compared to February.

Of which, Hoa Phat supplied 282 thousand tons of construction steel and high-quality rolled steel to the domestic and foreign markets, equivalent to February but down 45% compared to the same period last year. This is mainly due to the fact that domestic and export market demand remains low compared to last year, and the real estate market has not shown signs of recovery.

Hoa Phat Steel exported to Europe.

HRC output in March was 210 thousand tons, up 13% compared to February, of which exports contributed 30 thousand tons to the markets of Indonesia and Malaysia. It is expected that in April, HRC exports will increase sharply to countries in Europe and Asia.
In addition, Hoa Phat's downstream steel products recorded nearly 53 thousand tons of steel pipes and 22 thousand tons of galvanized steel of all kinds, down 41% and 39% respectively compared to March 2022.

In the first quarter of 2023, Hoa Phat Group produced 1.2 million tons of crude steel, down 42% over the same period in 2022. Sales of construction steel, steel billets and HRC reached 1.37 million tons, down 37% over the first 3 months of last year.

In the first quarter, construction steel reached 869 thousand tons, down 35%. Hot-rolled coil sales reached 482 thousand tons, equivalent to over 60% compared to the same period last year. Hoa Phat also supplied over 26 thousand tons of steel billets to other steel rolling mills in Vietnam.
Steel pipe and galvanized steel products supplied to the market in the past 3 months were 160 thousand tons and 69 thousand tons, respectively, down 23% and 34% respectively compared to the first 3 months of 2022.

Hoa Phat's crude steel capacity currently reaches 8.5 million tons/year, the largest in Southeast Asia. In the coming time, the Group will closely monitor market developments to regulate production in the most appropriate and effective way.

PV

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