Hoa Phat Group recorded a year-on-year rise of 31.2 percent in steel pipe sale in November (Photo: VNA)
Hanoi (VNA) – Leading steel manufacturer HoaPhat Group sold 95,000 tonnes of steel pipes in November, a year-on-yearincrease of 31.2 percent.
The group also sold about 16,900 tonnes of galvanizedsteel sheet roll, up 135 percent against the same period last year.
It saw strong growth in steel sales in all three regionslast month, with 34.2 percent recorded in the north; 33.7 percent in the south;and 17.8 percent in central Vietnam despite the fact that the region has beenseverely stricken by floods and storms over the last two months.
Ta Thanh Binh, head of the business division at Hoa PhatSteel Pipe Co., Ltd. – a subsidiary of Hoa Phat Group, attributed the sharpgrowth to the government’s policies to boost public investment and high demand duringthe year end as it is the peak time for developers to complete constructionprojects.
Additionally, the significant increase in global pricesof construction materials in recent months was another contributor to thegrowth, Binh said.
Hoa Phat sold nearly 4.14 million tonnes of steel in thefirst ten months of 2020. Of the total, more than 2.7 million tonnes ofconstruction steel were supplied to the market, up 28.6 percent year-on-year.
It exported 435,000 tonnes of ready-to-use steel in theperiod, double the volume in the same period last year.
In addition to construction steel, the Hoa Phat Dung Quatcomplex produced over 340,000 tonnes of hot rolled steel coil (HRC) in thefirst ten months./.
