Steelmaker Hoa Phat's sales surge 32% in two months

By VNA March 7, 2024 | 07:07 pm PT

An employee stands inside a Hoa Phat factory. Photo courtesy of Hoa Phat Group

Vietnamese steel giant Hoa Phat Group saw a 32% rise in sales volume of steel products in the first two months of this year, the firm reported.

In the January-February period, Hoa Phat sold 1.15 million tonnes of hot rolled steel products (HRC), construction steel, high quality steel and steel billets. Meanwhile, the firm produced 1.38 tonnes of crude steel, an increase of 71% over the same period last year.

However, in February, the firm saw a considerable drop in steel sales volume compared to that in January, mostly due to the long Lunar New Year holiday. In the month, Hoa Phat produced 690,000 tonnes of crude steel, a similar output as January.

In the month, its sales volume of hot rolled steel products, construction steel, high quality steel and steel billets was 518,000 tonnes, down 19% compared to the first month of the year.

Meanwhile, the firm sold 212,000 tonnes of construction steel and high quality steel, down 42% compared to January, along with 266,000 tonnes of HRC products, 41,000 tonnes of steel pipes, and 32,000 tonnes of galvanized steel.