Hoa Phat’s steel sales hit nearly 4 million tonnes in first half

Illustrative image (Photo: hoaphat.com.vn)

Hanoi (VNA) – Hoa Phat Group has reported that it sold nearly 4 million tonnes of steel in the first half of 2022, up 6% compared to the same period last year.

Of the figure, construction and hot-rolled coil (HRC) steel reached 2.38 million tonnes and 1.4 million tonnes, up 29% and 7% year-on-year, respectively.

In June alone, the firm recorded a strong surge of construction steel sale, hitting 348,000 tonnes, up 51% month-on-month

The result was attributed to the increasing sales in the southern market, and the strong export, with respective surges of 200% and 60% over the same period in 2021.

The group said it has maintained its high growth in export thanks to exploiting some new markets such as Singapore and Hong Kong (China). Orders from traditional markets such as Canada, Japan, Cambodia, and Thailand still remain stable.

In the January – June period, the firm produced 4.3 million tonnes of crude steel, 8% higher than the corresponding period in 2021.

Hoa Phat is the largest steel producer in Vietnam. It has created jobs and stable income for nearly 30,000 labourers nationwide, and in Australia and Singapore./.