Hoa Phat's steel sales enjoy 2.3-fold rise in February
Vietnam’s largest steelmaker, Hoa Phat Group, sold a total of 450,000 tonnes of construction steel products in February, representing a 2.3-fold increase year on year and a rise of 17 percent against January.
Hanoi (VNA) - Vietnam’s largest steelmaker, HoaPhat Group, sold a total of 450,000 tonnes of construction steel products in February, representing a 2.3-fold increase year on year and a rise of 17 percent against January.
Of the volume, 60,000 tonnes were exported, more than doublethe figure of the same month last year.
Meanwhile, of the total domestic sales, the northern regionconsumed 250,000 tonnes, nearly tripling the figure of 2021. The consumption amountof the central and southern regions also posted strong growth at 2.5 and 1.5times higher than the same period last year, respectively.
According to Kieu Chi Cong, Director of Hoa Phat HungYen Steel Limited Company, Hoa Phat's factories are operating at maximumcapacity to serve domestic and foreign demands.
Consumption volume in Februaryincreased sharply mainly due to high demand for civil construction at thebeginning of the year, especially in the North. Demand from constructors of public investment projects, suchas Vinh Tuy bridge – phase 2, North-South expressway, and Trung Luong – My Thuanexpressway, has been also on the rise.
In the first two months, Hoa Phat’s steel sales hit 828,000tonnes, a 2.2-fold rise from the same period last year. During the period, the group exported 174,000 tonnes tosuch key markets as Singapore, Hong Kong (China), Canada, Japan, and theRepublic of Korea.
With the market showing many positive signs, it is expectedthat the group’s finished construction steel consumption will grow byover 20 percent this year./.
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Illustrative photo (Source: VNA) 
