Hoa Phat : supplied 709,000 tons of steel to the market in November

In November 2023, Hoa Phat Group produced 623,000 tons of crude steel, equivalent to the previous month. Sales volume of hot rolled coil steel products (HRC), construction steel, high quality steel, and steel billets reached 709,000 tons, up 12 per cent compared to October. Construction steel and high quality steel alone posted 21 per cent year-on-year increase with 410,000 tons.

Hoa Phat supplied 709,000 tons of steel to the market in November

The domestic construction steel market increased due to the start of the building season and partly came from solutions to promote disbursement of public investment capital. This leads to consumption in all three regions of Hoa Phat Group recording growth. Of which, the highest increase was in the southern region, with 47 per cent hike compared to the previous month.

Hoa Phat's HRC steel last month was equivalent to the previous month with nearly 270,000 tons. Hot rolled coil steel sales in the northern region achieved positive results, specifically increased 55 per cent compared to October.

In addition, the group also provided 37,000 tons of galvanized steel sheets and 73,000 tons of steel pipes of all kinds to both domestic and foreign markets. These HRC downstream products achieved growth of 44 per cent and 34 per cent respectively compared to the previous month.

In the first 11 months of the year, Hoa Phat Group produced more than 6 million tons of crude steel, posting 14 per cent year-on-year decrease. Sales volume of steel products reached 5.96 million tons in the 11-month period, down 10 per cent over the same period last year.

Of which, construction steel and high quality steel reached 3.3 million tons, down 15 per cent compared to the first 11 months of 2022. Export activities of these types of steel contributed 695,000 tons, down 37 per cent to the corresponding period last year. Steel billets supplied to the domestic and export markets were 109,000 tons.

Sales volume of HRC product recorded over 2.5 million tons, an increase of 2 per cent over the same period last year. HRC downstream product - galvanized steel sheets reached 304,000 tons, posting 2 per cent year-on-year increase. Meanwhile, 616,000 tons of steel pipe products were sold in the first 11 months of the year, down 11 per cent compared to the first 11 months of 2022.

Hoa Phat Group is the largest steel manufacturer in Southeast Asia with a crude steel capacity of 8.5 million tons a year. Of which, the output of high quality steel billet and construction steel is 5.5 million tons, hot rolled steel coil 3 million tons a year. With the most diverse types, meeting a series of strict world standards, Hoa Phat Group has exported many steel products to 30 countries and territories across 5 continents.

Currently, the group is implementing the Hoa Phat Dung Quat 2 Steel Integrated Complex project in central province of Quang Ngai with a design capacity of 5.6 million tons of hot rolled steel per year. It is expected that when the project is completed in early 2025, Hoa Phat's annual crude steel production capacity will reach over 14 million tons, equivalent to the top 30 largest steel enterprises in the world.