Hoa Phat’s steel sales enjoy 2.3-fold rise in February | Business

Illustrative photograph (Supply: VNA)

Hanoi (VNA) – Vietnam’s largest steelmaker, Hoa
Phat Group, bought a complete of 450,000 tonnes of development metal merchandise in February, representing a 2.3-fold improve 12 months on 12 months and an increase of 17 % in opposition to January.

Of the amount, 60,000 tonnes had been exported, greater than double
the determine of the identical month final 12 months.

In the meantime, of the full home gross sales, the northern area
consumed 250,000 tonnes, almost tripling the determine of 2021. The consumption quantity
of the central and southern areas additionally posted sturdy progress at 2.5 and 1.5
instances larger than the identical interval final 12 months, respectively. 

In line with Kieu Chi Cong, Director of Hoa Phat Hung
Yen Metal Restricted Firm, Hoa Phat’s factories are working at most
capability to serve home and overseas calls for.

Consumption quantity in February
elevated sharply primarily attributable to excessive demand for civil development on the
starting of the 12 months, particularly within the North. Demand from constructors of public funding tasks, such
as Vinh Tuy bridge – part 2, North-South expressway, and Trung Luong – My Thuan
expressway, has been additionally on the rise.

Within the first two months, Hoa Phat’s metal gross sales hit 828,000
tonnes, a 2.2-fold rise from the identical interval final 12 months. In the course of the interval, the group exported 174,000 tonnes to
such key markets as Singapore, Hong Kong (China), Canada, Japan, and the
Republic of Korea.

With the market exhibiting many optimistic indicators, it’s anticipated
that the group’s completed development metal consumption will develop by
over 20 % this 12 months./.