Hoa Phat steel production increased in August thanks to high demand for the civil sector and boosted public investment projects.
Accumulation of 8 months, Hoa Phat reached 3.2 million tons of steel production, of which construction steel finished products over 2.1 million tons, the rest is steel billet.
Hoa Phat Group (HoSE: HPG) announced in August, the enterprise has provided nearly 500,000 tons of construction steel products to the market, including over 320,000 tons of finished steel and 170,000 tons of billet.
Finished steel output in August increased by 65% over the same period. In which, the South reached 76,000 tons, 2 times higher than the same period last year. The output of finished steel products for export reached 54,000 tons, 3 times higher than the same period.
Enterprises said that despite the unfavorable weather, many localities conducted social isolation due to the Covid-19 epidemic such as Da Nang, Quang Nam, Quang Ngai, Hai Duong, … but the consumption of Hoa Phat steel in the region. Civilization continues at a high level. At the same time, the consumption of Hoa Phat steel products is good thanks to public investment projects such as the renovation project of Noi Bai international airport, Tan Son Nhat, many wind power projects, solar power, schools. , the hospital is actively deployed.
Accumulation of 8 months, Hoa Phat reached 3.2 million tons of steel production, of which construction steel finished products over 2.1 million tons, the rest is steel billet. Finished steel output increased by 18.3% over the same period, the Southern region doubled over the same period.
The amount of steel exported in 8 months has exceeded 17% compared to the whole year of 2019 with over 310,000 tons, nearly doubling compared to the eight months of 2019. The main markets include Japan, Korea, Malaysia, Australia, Canada, Thailand, Cambodia, Laos
Among export markets, Malaysia has the best growth. Total export orders delivered to November to this market is over 50,000 tons, up 6.3 times. In addition, Hoa Phat Steel has exploited some new markets such as Kenya, Ghana (Africa), China (including Taiwan market).
Besides finished steel, Hoa Phat signed a contract to sell 1.5 million tons of billet to domestic and foreign markets, delivery until November. By the end of August, the amount of billet exported out of the factory was more. 1 million tons, of which 66% is the product of Hoa Phat Dung Quat Iron and Steel Production Complex.
Recently, the group announced that the No. 3 blast furnace of the Dung Quat project was put into production on August 24, allowing the unit to start supplying hot rolled coil (HRC) products to the market right in September.