Hoa Phat’s steel pipe sales up 8.6 percent in Jan-Feb

Hanoi (VNA) - Leading steel manufacturer Hoa Phat Group sold over 93,200 tonnes of steel pipes in the first two months of 2021, a year-on-year increase of 8.6 percent and giving it the leading market share in Vietnam.

According to the group, the price of steel pipe products on the domestic and foreign markets has also increased strongly.

Hoa Phat posted solid growth in steel sales in all three regions in the first two months, especially in the central and Central Highlands regions, with respective growth rates of 29 percent and 25 percent. Sales in the north accounted for 45 percent of its total.

High-quality steel pipe products from Hoa Phat were exported to the US, Australia, Canada, and Hong Kong (China) during February.

In addition to finished steel pipes, the Hoa Phat Steel Pipe Co., a subsidiary of the Hoa Phat Group, also provided 10,000 tonnes of galvanised steel coil, which is the material used for producing steel pipes, purlin, mechanical accessories, and railings.

The Hoa Phat Steel Sheet Co., meanwhile, also recorded impressive sales growth of over 42,000 tonnes in the first two months, a 91 percent rise over the same period last year.

The company signed contracts to export corrugated steel products to Europe, the US, and Canada.

Hoa Phat expects to sell 920,000 tonnes of steel pipe and 330,000 tonnes of corrugated steel products in 2021, up 12 percent and 200 percent against 2020./.