Hoa Phat produces 5.5 mln tons of crude steel in 8 months

By Trang Nguyen
Fri, September 9, 2022 | 3:13 pm GMT+7

Hoa Phat Group, the largest Vietnamese steelmaker, produced 5.5 million tons of crude steel in the first eight months of the year, up 2% year-on-year.

Sales volume of billets, construction steel and hot rolled coil (HRC) reached 5.14 million tons, up 5% compared to the first eight months of 2021.

Construction steel sales rose 27% year-on-year to 3.1 million tons, with exports accounted for 32%, or 990,000 tons, up 82%.

Hoa Phat has supplied 1.8 million tons of HRC to the market during the period, up 3% year-on-year. Sales of downstream products like steel pipes and coated steel sheets reached 491,000 tons and 226,000 tons, respectively, up 5-7% year-on-year.

Hoa Phat's construction steel reached 3.1 million tons in the first eight months of 2022. Photo courtesy of the group.

Hoa Phat's construction steel reached 3.1 million tons in the first eight months of 2022. Photo courtesy of the group.

In August 2022, Hoa Phat achieved a sales volume of 628,000 tons of construction steel, billets and HRC. Of this, sales of construction steel reached 386,000 tons, a 44% rise over July. The figure for HRC was 233,000 tons, up 56% from July, but a slight decrease over August 2021.

The high construction steel output was mainly driven by better domestic consumption compared to previous months, according to a company release.

Sales recorded strong growth across the nation, up 54% year-on-year in the north, 39% in the center and a two-fold increase in the south.

Meanwhile, the market's demand for steel pipes and galvanized steel products has improved, helping Hoa Phat's HRC sales to surge over July.

Specifically, sales of steel pipe products reached nearly 64,000 tons in August, up 60% year-on-year, while that of corrugated iron reached 28,000 tons, down 5% year-on-year but up 60% compared to July.

Hoa Phat has crude steel production capacity of 8.5 million tons. Its construction steel and steel pipes hold the biggest market share in Vietnam at 36.4% and 29%, respectively, according to the release.

Hoa Phat exports steel products to more than 20 countries and territories. The group, listed on the Ho Chi Minh Stock Exchange as HPG, has created jobs for nearly 30,000 people in Vietnam, Australia and Singapore.

The HPG share closed Friday’s session at VND23,800 ($1.01).

Comments (0)
  • Read More
Ha Tinh province hands over 88% of land for $63 mln VSIP industrial park project

Ha Tinh province hands over 88% of land for $63 mln VSIP industrial park project

Vietnam's central province of Ha Tinh has handed over 88% of land earmarked for the Bac Thach Ha Industrial Park project to its developer, Vietnam-Singapore Industrial Park J.V. Co. Ltd. (VSIP).

Industrial real estate - Sun, March 24, 2024 | 8:00 am GMT+7

Hanoi apartment prices skyrocket

Hanoi apartment prices skyrocket

The primary asking price of apartments in Hanoi reached nearly VND60 million ($2,422) per square meter at the end of 2023, and they have continued to rise by 10-15% this year.

Real Estate - Sun, March 24, 2024 | 7:00 am GMT+7

Mekong Delta province Vinh Long calls for investments worth $2.26 bln

Mekong Delta province Vinh Long calls for investments worth $2.26 bln

Vietnam's southern province of Vinh Long has called for project investments worth VND56 trillion ($2.26 billion) in several areas as it targets becoming a hi-tech agricultural hub by 2030.

Industries - Sat, March 23, 2024 | 8:28 pm GMT+7

Vietnam agri major Hoang Anh Gia Lai changes logo colors

Vietnam agri major Hoang Anh Gia Lai changes logo colors

Hoang Anh Gia Lai Group, which has decided to focus on cultivating bananas and durians and growing banana-fed pigs, will adopt a logo with new colors starting April 1.

Companies - Sat, March 23, 2024 | 8:22 pm GMT+7

Vietnam banks enter new phase of deposit rate cuts

Vietnam banks enter new phase of deposit rate cuts

Vietnamese commercial banks, led by state-controlled majors, have begun a new round of lowering deposit interest rates amidst tepid credit growth.

Banking - Sat, March 23, 2024 | 3:42 pm GMT+7

More banking activities can boost India-Vietnam ties: envoy

More banking activities can boost India-Vietnam ties: envoy

Increased banking activities would enhance economic, investment and trade ties between Vietnam and India, Indian ambassador Sandeep Arya said Friday at the Business Meet on India-Vietnam Business and Banking Services.

Banking - Sat, March 23, 2024 | 2:57 pm GMT+7

Malaysia declines to host 2026 Commonwealth Games

Malaysia declines to host 2026 Commonwealth Games

Malaysia has rejected an offer to host the 2026 Commonwealth Games Federation (CGF), under a decision made by the cabinet on Friday.

Southeast Asia - Sat, March 23, 2024 | 2:00 pm GMT+7

Thailand works to conserve coral reefs

Thailand works to conserve coral reefs

Thai marine biologists are making efforts to save the country’s reefs from degradation driven by warming oceans and human activity like tourism.

Southeast Asia - Sat, March 23, 2024 | 1:55 pm GMT+7

Thailand aims to become EV production hub

Thailand aims to become EV production hub

Thai Prime Minister Srettha Thavisin on Friday reiterated his government's policy to promote the domestic manufacturing of electric vehicles (EVs) and parts in order to drive national economy.

Southeast Asia - Sat, March 23, 2024 | 1:50 pm GMT+7

Japan's Suntory earns $950 mln from 2023 beverage business in Vietnam

Japan's Suntory earns $950 mln from 2023 beverage business in Vietnam

Japan-based brewing and distilling firm Suntory, a partner in Vietnam-based Suntory PepsiCo Vietnam Beverage, earned an organic revenue of JPY143.4 billion ($947 million) from beverage business in the Southeast Asian country in 2023.

Companies - Sat, March 23, 2024 | 11:43 am GMT+7

Vietnam Airlines considers adding Embraer aircraft to fleet

Vietnam Airlines considers adding Embraer aircraft to fleet

National flag carrier Vietnam Airlines and its subsidiary Pacific Airlines are drafting a plan to overcome challenges related to the Covid-19 pandemic by checking the suitability of Embraer aircraft for their fleets.

Companies - Sat, March 23, 2024 | 11:27 am GMT+7

Australia’s Northern Territory - a land of great potential

Australia’s Northern Territory - a land of great potential

Australia’s Northern Territory is a land rich in resources, with many favorable conditions for the development of agriculture and tourism. It possesses huge untapped potential, and has high demand for labor and construction materials for infrastructure development.

Industries - Sat, March 23, 2024 | 7:45 am GMT+7

SK Ecoplant, BCG Energy to jointly develop 700 MW of renewable energy in Vietnam

SK Ecoplant, BCG Energy to jointly develop 700 MW of renewable energy in Vietnam

SK ecoplant, part of South Korean chaebol SK Group, and BCG Energy, under Vietnamese conglomerate Bamboo Capital Group, will cooperate to produce 700 MW of renewable energy in Vietnam.

Energy - Fri, March 22, 2024 | 9:51 pm GMT+7

ASEAN, China, Hong Kong cooperate for first time in textile industry

ASEAN, China, Hong Kong cooperate for first time in textile industry

The China National Textile and Apparel Council, the ASEAN Federation of Textile Industries (AFTEX), the Textile Council of Hong Kong, and the Hong Kong General Chamber of Textiles (HKGCOT) signed their first memorandum of understanding on cooperation at a ceremony in Hong Kong on Thursday.

Southeast Asia - Fri, March 22, 2024 | 5:04 pm GMT+7

China projector maker XGIMI to invest $30 mln in northern Vietnam

China projector maker XGIMI to invest $30 mln in northern Vietnam

XGIMI, a China-based projector manufacturer, will invest $30 million in the first phase of a project in Vietnam’s northern province of Nam Dinh.

Industries - Fri, March 22, 2024 | 4:47 pm GMT+7

Boeing aids clean water access, sustainable livelihoods projects in Vietnam

Boeing aids clean water access, sustainable livelihoods projects in Vietnam

Eleven Vietnam projects related to clean water access and sustainable agroforestry livelihoods will receive funding from a Boeing grant this year.

Companies - Fri, March 22, 2024 | 4:39 pm GMT+7