Hoa Phat reports higher production and trading of steel in the first eight months— VNS Photo

HA NOI (Biz Hub) — The recovery of the real estate market has boosted steel production and trading in the Hoa Phat Group in the first eight months of the year.

The group produced 924,000 tonnes of steel during the period, an increase of 48 per cent over the first eight months of 2014.

In particular, the Hoa Phat Steel Complex in Hai Duong produced more than 763,000 tonnes of steel billets and 671,000 tonnes of rolled steel products, up 32.6 per cent and 59.4 per cent, respectively, over the same period last year.

The Hoa Phat steel factory in Hung Yen produced 253,000 tonnes, an increase of 28 per cent over last year, and the highest level in the last four years, Vice-Director of Hoa Phat Steel Limited Company Tran Van Nam said.

Nam said as many construction projects were being implemented faster, the demand for construction steel has increased.

In the first eight months of this year, the group sold 892,000 tonnes of steel, including the export of 30,000 tonnes to Laos and Cambodia, marking a more than 30 per cent increase over the same period last year. The group expects to sell about 1.2 million tonnes of construction steel by the end of the year. — VNS