Hoa Phat sells nearly 500,000 tonnes of steel products in August

Sunday, Sep 06, 2020 18:00

Hoa Phat will also begin supplying hot-rolled coil steel to the market this month. — Photo VNA

Hoa Phat Group sold nearly 500,000 tonnes of products in August, including more than 320,000 tonnes of steel and 170,000 tonnes of billets despite the COVID-19 pandemic.

The volume of steel soared by 65 per cent month-on-month, including 54,000 tonnes for export, triple that of the same period last year.

Despite poor weather conditions and social distancing orders necessitated by the pandemic, consumption of Hoa Phat steel in civil construction remains high.

In the first eight months of this year, Hoa Phat produced 3.2 million tonnes of steel products, including 2.1 million tonnes of construction steel, with the remainder billets.

Steel for export surpassed 17 per cent annually to more than 310,000 tonnes, nearly doubling year-on-year. Its major markets include Japan, South Korea, Malaysia, Australia, Canada, Thailand, Cambodia and Laos.

The group also sold 1.5 million tonnes of billets to domestic and foreign markets.

This month, it will also begin supplying hot-rolled coil steel to the market. — VNS

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