Hoa Phat's steel output notches record high in March

Tuesday, Apr 07, 2020 14:42

Finished steel products stored at a Hoa Phat warehouse. The company's March output rose 42.2 per cent on-year to a record high of 351,000 tonnes. — Photo courtesy of Hoa Phat Group

Construction steel production reached a record high of 351,000 tonnes in March, up 42.2 per cent year-on-year, steel maker Hoa Phat Group has announced.

Strong growth was seen last month in all three regions amid the novel coronavirus pandemic having hit the entire global economy.

Production gained 89.7 per cent in the South, 23.2 per cent in the Central Region, and 14.7 per cent in the North.

Exports in March were also high as the company shipped nearly 68,000 tonnes of finished steel to the likes of Japan, Cambodia and Australia.

The figure almost equalled that recorded in the first three months of 2019.

The company also shipped 135,000 tonnes of billets to overseas markets.

In total, Hoa Phat produced and exported 486,000 tonnes of finished steel and billet in March.

In the January-March period, the group sold a total of 732,000 tonnes of construction steel, 135,000 tonnes of finished steel and 350,000 tonnes of billet to both domestic and overseas customers.

Production reached a record volume in March as civil construction demand rose high, according to the steel-producing group’s Hung Yen Province office.

To meet the market’s rising demand during the virus-hit period, the group has been using applications to control its production and sale activities while making sure measures are taken to prevent the coronavirus from spreading to the employees and customers. — VNS

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