Hoa Phat steel sales surge in July

Wednesday, Aug 05, 2020 09:29

A Hoa Phat steel plant. — Photo courtesy of the company

Leading steel manufacturer Hoa Phat Group sold 300,000 tonnes of construction steel in July, up 19 per cent from June and 27.5 per cent year-on-year.

According to the firm, last month it exported 53,500 tonnes of steel, double the volume in the same period last year.

Sales in the southern region rose two times year-on-year to 75,000 tonnes, mostly thanks to civil construction works. The launching of public infrastructure projects also helped push Hoa Phat’s steel sales up.

In the first seven months of 2020, Hoa Phat supplied 1.81 million tonnes of construction steel to the market, up 14.5 per cent year on year, including 256,500 tonnes shipped to foreign markets, up 73.3 per cent and equivalent to the total export volume in 2019.

Major export markets of Hoa Phat steel include Japan, South Korea, Laos, Malaysia, Australia, Canada, Thailand and Cambodia.

Along with ready-to-use steel, Hoa Phat also sold 1 million tonnes of steel billets for construction steel production in seven months, including 169,000 tonnes in July alone.

The completion of Hoa Phat Dung Quat port made great contributions to the transport of Hoa Phat steel, promoting its sales. Recently, the port received a 176,000 tonne capsize vessel, the biggest of its kind it had ever served. — VNS


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