In July 2022, the sales volume of billet products, construction steel, and hot rolled coil reached 526,000 tons, equivalent to the same period in 2021. In which, construction steel contributed 372,000 tons, raising 2% compares to the same period in 2021.
With the advantage of the deep-water port at the factory, Hoa Phat easily supplies products to domestic and foreign markets
Entering July, the domestic steel market continued to struggle due to sluggish demand, and the weather entered the rainy season. However, the Group's construction steel export output recorded 147,000 tons, an increase of 81% over the same period last year. This is the main reason why Hoa Phat Steel's sales volume increased year on year.
The Group's hot rolled coil (HRC) reached 150,000 tonnes last month, down 5% compared to July 2021. The HRC downstream products such as steel pipe and galvanized sheet reached 78,000 tons, and steel pipe alone was 60,000 tons, an acceleration of 38% over the same period.
In the cumulative 7 months, Hoa Phat Group produced 4.9 million tons of crude steel, representing a 5% growth compared to the same period in 2021. The sales volume of construction steel, billet, and HRC reached over 4.5 million tons of steel of various types, up 5% from the same period in 2021. In which, construction steel is 2.7 million tons, growing 25%; HRC production contributed nearly 1.6 million tons, an increase of 6% compared to 7 months of 2021.
In addition, Hoa Phat supplied 437,000 tons of steel pipes and 198,000 tons of galvanized steel after 7 months. This is a slight increase compared to the same period last year.
In the steel sector, the Group currently has a crude steel capacity of 8.5 million tons/year. Hoa Phat's construction steel and steel pipe hold the No.1 market share in Vietnam, with 36.2% and 28.8% respectively. The Group not only serves the domestic market but also exports steel products to more than 20 countries around the world to diversify the consumption market.