Vietnam steel giant Hoa Phat's steel output, sales rise YoY in Oct
Last month, HPG produced 619,000 tonnes of crude steel in total, up 9.2% on year but down by 3% from September. Meanwhile, the group's sales volume of construction steel, billet and hot-rolled coil (HRC) reached 635,000 tonnes, higher by 29.1% on year and 7% on month respectively, HPG's release showed.
Within the steelmaker's total sales in October, those of hot coils reached 273,000 tonnes with an on-month leap of 17%, the release stressed, citing better demand for downstream coil products in the southern market and exports market as the major reason behind the rise.
The sales volume of Hoa Phat's HRC downstream products - steel pipes and galvanized steel sheet - both posted on-month rises last month and gave a boost to its HRC sales in turn, with the steel pipe sales up by 11% from September to 54,000 tonnes and those of galvanized steel sheet higher by 25% on month to 26,000 tonnes.
During October, the Vietnam steel giant supplied 339,000 tonnes of construction steel and high-quality steel products to the market, down by 4% on month. Of that, the exports volume moved higher by 23% on month to 110,000 tonnes, HPG's data showed.
Besides, Hoa Phat stressed in its release that it had received orders for export billet for the first time in many months.
Over January-October, HPG produced 5.43 million tonnes of crude steel in total, lower by 18% compared to the same period in 2022. Meanwhile, its steel product sales volume added up to 5.25 million tonnes in the first ten months, down by 15% on year, according to the release.
Written by Carly Chen, chenziyi@mysteel.com
Edited by Alyssa Ren, rentingting@mysteel.com
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