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Hoa Phat Group (HPG) sells over 2.16 million tonnes of steel in Q1
Leading steel manufacturer Hoa Phat Group sold more than 2.16 million tonnes of steel in the first quarter of this year, recording strong increases in the sales of all products in the period.
The sale of construction steel hit 855,000 tonnes, a year-on-year surge of 17 per cent. Exports of the item topped 147,000 tonnes, up 10 per cent.
Meanwhile, Hoa Phat shipped 386,000 tonnes of steel billets in Q1, rising 27 per cent against the same period last year. Hot-rolled coil (HRC) exports topped 665,000 tonnes, posting a rise of 75 per cent compared to the previous quarter.
The company also sold over 184,000 tonnes of steel pipes in the quarter, a year-on-year jump of 27 per cent.
Hoa Phat saw a record high in the firm’s monthly sales as it sold over one million tonnes of steel in March.
Nearly 480,000 tonnes of construction steel were sold, a year-on-year surge of 36 per cent. Its exports hit 80,000 tonnes, up 18 per cent against the peak figure recorded last March.
The supply of steel billets and HRC to the market were up 32 per cent and 36 per cent in the month, respectively, to 178,000 tonnes and 238,000 tonnes.
The group attributed the surges to a hike in factory capacity following the trial operation of the fourth blast furnace at the Hoa Phat Dung Quat iron and steel production complex in January, and the start of major infrastructure projects nationwide.
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