In February 2024, Hoa Phat Group produced 690,000 tons of crude steel, equivalent to the previous month. The sales volume of hot-rolled coil (HRC), construction steel, high-quality steel, and steel billets supplied to the market reached 518,000 tons, a 19% decrease compared to the first month of the year, but an 8% increase compared to the same period.
Sales volume of Hoa Phat steel by month
Unit: Tons
“The decrease in Hoa Phat steel consumption is mainly due to the extended Lunar New Year holiday combined with the overall market demand that has not improved,” Hoa Phat stated.
Construction steel and high-quality steel recorded 212,000 tons, a 42% decrease compared to January 2024. Hoa Phat also supplied over 38,000 tons of steel billets to the domestic and international markets, with exports contributing 25,000 tons.
Hot-rolled coil (HRC) reached 266,000 tons, a 3% decrease compared to the previous month, primarily due to a decrease in export markets compared to the first month of the year. The domestic market still saw an increase in production volume in all three regions.
In addition, Hoa Phat also supplied 41,000 tons of steel pipes and 32,000 tons of galvanized steel, a decrease of 15% and 5% respectively compared to the first month of the year.
Sales volume for the first two months of the year increased significantly compared to the same period
Over the past two months, Hoa Phat Group produced 1.38 million tons of crude steel, a 71% increase compared to the same period in 2023. Sales of HRC, construction steel, high-quality steel, and steel billets reached 1.15 million tons, a 32% increase compared to the same period.
Among them, construction steel and high-quality steel reached 575,000 tons, a 2% decrease compared to the first two months of 2023. HRC contributed 542,000 tons, doubling compared to the same period last year.
For downstream products, Hoa Phat’s HRC and steel pipes recorded 88,000 tons after two months, a 17% decrease. Various types of galvanized steel reached a production volume of 66,000 tons, a 39% increase, mainly due to better export volumes of galvanized steel in the past two months compared to the same period in 2023.
