Hoa Phat steel sales hit 457,000 tonnes in April

At a Hoa Phat factory (Photo: VNA)

The leading steel manufacturer Hoa Phat Group sold nearly 457,000 tonnes of steel in April, of which the volume of hot-rolled coil product reached 239,000 tonnes, the highest since the beginning of the year.

Also in the month, the group produced 525,000 tonnes of raw steel, up 19% month-on-month and down 29% year-on-year. The figure was 1.8 million between January and April, an annual decrease of 39%.

In the four-month period, Hoa Phat’s steel sales exceeded 1.8 million tonnes, dropping by 34% against last year. Of the total sales, there were over 1 million tonnes of construction steel and 721,000 tonnes of hot-rolled coil, both down 34% and 29% year-on-year, respectively.

The group recorded its first-quarter revenue at more than 26.86 trillion VND (1.14 billion USD), a decrease of 39% from 2022, with consolidated profit after tax hitting 383 billion VND.

As the market is forecast to remain difficult in the second quarter, the company has planned to focus its resources on investment in the second Hoa Phat Dung Quat 2 iron and steel production complex project and the restoration of steel production volume in Hai Duong and Quang Ngai.

VNA