In November 2022, Hoa Phat Group recorded 384,000 tons of crude steel, down 43% in comparison to the same period in 2021. Sales of steel products reached 443,000 tons, a drop of 30% compared to this month last year. In November, construction steel production reached 252,000 tons, a rise of 20% compared to October but fell 7% over the same period. The number of hot rolled coils (HRC) totaled 180,000 tons, a 12% reduction over the same period in the prior year.
There has been no improvement in the demand for steel products in general in the domestic and foreign markets. This is the main reason for total consumption dropping to the lowest level since the beginning of the year. While domestic consumption of construction steel has seen a slight recovery compared to the previous month, exports have seen a decrease of more than 70% over the same period. PVC Coated Welded Wire Mesh
Consumption of downstream steel products is also difficult due to the quiet market. Accordingly, the output of steel pipe and galvanized sheet reached 53,000 and 22,800 tons respectively in November 2022. Particularly, the export of galvanized steel was 9,000 tons, equal to 16% in comparison to November 2021.
Accumulated in 11 months, Hoa Phat Group produced 7 million tons of crude steel, down 6% compared to 11 months of 2021. Consumption of construction steel, billet, and HRC reached more than 6.6 million tons, a decrease of 6%, mainly because there were no export orders for billet as last year. As compared to the same period last year, construction steel accounted for 3.9 million tons, an increase of 11%, and HRC nearly 2.5 million tons, an increase of 6%.
Over 11 months, Hoa Phat steel pipe sold 688,000 tons, up 11%. Nearly 300,000 tons of galvanized steel products were shipped by the group, down more than 20% from the same period last year.
With the advantage of modern technology, making steel from iron ore, Hoa Phat possesses the most diversified and high-quality product chain. The Group's current steel product chain includes billet, construction steel, hot rolled coil, steel pipe, and galvanized sheet. In particular, Hoa Phat Group has pioneered in manufacturing high-quality wire rods, replacing imported goods, serving the production of prestressed steel, wire drawing steel, bead wire and welding rod cores, screws.
Wire Rod For Nail Making Hoa Phat Group JSC published this content on 06 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 December 2022 03:11:03 UTC.