(Hanoi Iron and Steel - HSV) Accumulated in 11 months, Hoa Phat produced 7 million tons of crude steel, sold 6.6 million tons of construction steel and steel billets. The decrease in production and consumption is both 6% compared to 2021.
In November 2022, Hoa Phat Group recorded 384,000 tons of crude steel, down 43% compared to the same period in 2021. Sales of steel products reached 443,000 tons, down 30% compared to November last year.
Of which, construction steel contributed 252,000 tons, up 20% compared to October and down 7% over the same period. Hot rolled steel coil (HRC) reached 180,000 tons, down 12% over the same period.
Domestic and foreign market demand for steel products has not generally improved. This is the main reason leading to total consumption falling to the lowest level since the beginning of the year. Domestic construction steel consumption recovered slightly compared to last month, but the export market decreased by more than 70% over the same period.
The consumption of downstream steel products also faces difficulties due to a quiet market. Accordingly, the output of steel pipes and galvanized steel sheets will reach 53,000 and 22,800 tons respectively in November 2022. Galvanized steel export alone is 9,000 tons, equal to 16% compared to November 2021.
In the cumulative 11 months, Hoa Phat Group has produced 7 million tons of crude steel, down 6% compared to the first 11 months of 2021. Consumption of construction steel, steel billets, and HRC reached more than 6.6 million tons, down 6%, mainly due to there being no steel billet export orders like last year. Of which, construction steel accounted for 3.9 million tons, an increase of 11%, HRC reached nearly 2.5 million tons, an increase of 6% over the same period.
After 11 months, Hoa Phat steel pipes sold 688,000 tons, an increase of 11%. The Group's galvanized steel products recorded nearly 300,000 tons, down more than 20% compared to the same period last year.
With the advantage of modern technology, steelmaking from iron ore, Hoa Phat now owns the most diverse and high-quality product chain. The Group's current steel product chain includes steel billets, construction steel, hot rolled steel coils, steel pipes, and galvanized steel sheets. In particular, Hoa Phat Group has pioneered the production of high-quality rolled steel lines, replacing imported goods, serving the production of prestressed steel, wire drawing steel, steel for car tire treads, welding rod cores, and screws.