Hoa Phat's steel export orders reach 720,000 tonnes by May

Hanoi (VNA) – Vietnam’s largest steel maker Hoa Phat Group said it has received export orders of 720,000 tonnes of construction steel in total for delivery between now and May.

The company sold a total of 450,000 tonnes of the product in February, a 2.3-fold increase year on year and a rise of 17 percent against January.

Of the volume, 60,000 tonnes have been exported, doubling the figure of the same month last year.

Hoa Phat also supplied to the market nearly 240,000 tonnes of hot-rolled coil (HRC) last month, up 5 percent month-on-month and 36 percent year-on-year.

Total sales of Hoa Phat’s construction steel, billet steel and HRC surged 39 percent year-on-year to 708,000 tonnes in February.

It has received an order of 35,000 tonnes of HRC from Italy, which has been delivered to the buyer at Hoa Phat Dung Quat Port on February 26.

In the first two months, its output of raw steel reached some 1.4 million tonnes, an increase of 8 percent from a year earlier. Total sales of construction steel, steel billets and HRC hit 1.34 million tonnes, up 32 percent.

Its annual capacity now exceeds 8 million tonnes, or around 700,000 tonnes per month. Its steel production complexes in Quang Ngai, Hai Duong and Hung Yen has operated at full capacity to fulfill orders both at home and overseas./.