Hoa Phat’s steel export volume increases 3.5 fold in April

Steel manufacturer Hoa Phat Group sold a total of 869,000 tonnes of steel in April, a surge of 65% compared to the same month last year.

The sales of construction steel rose by over 59% against a year earlier to 428,000 tonnes; some 73,000 tonnes of which were exported, a 3.5-fold increase year-on-year.

The surge was partly thanks to the fact that Hoa Phat has entered a new market, Peru, and continued securing orders of large volume from major markets, such as Australia, Japan, Canada and ASEAN nations.

Last month, the steel maker also supplied 212,000 tonnes of hot-rolled coil (HRC) to the market and shipped 121,000 tonnes of steel billets overseas, mostly to China.

In the first four months of 2021, the company sold a total of 2.66 million tonnes of steel billets, construction steel and HRC. Total sales of construction steel reached 1.28 million tonnes, up 28% year-on-year; its export of finished products hit 220,000 tonnes, up 42%.

The firm aims to produce about 5 million tonnes of construction steel and steel billets, 2.7 million tonnes of HRC and 920,000 tonnes of steel pipe this year.