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Vietnam’s largest steelmaker, Hoa Phat Group, sold a total of 450,000 tonnes of construction steel products in February, representing a 2.3-fold increase year on year and a rise of 17 percent against January.
Of the volume, 60,000 tonnes were exported, more than double the figure of the same month last year.
Meanwhile, of the total domestic sales, the northern region consumed 250,000 tonnes, nearly tripling the figure of 2021. The consumption amount of the central and southern regions also posted strong growth at 2.5 and 1.5 times higher than the same period last year, respectively.
According to Kieu Chi Cong, Director of Hoa Phat Hung Yen Steel Limited Company, Hoa Phat's factories are operating at maximum capacity to serve domestic and foreign demands.
Consumption volume in February increased sharply mainly due to high demand for civil construction at the beginning of the year, especially in the North. Demand from constructors of public investment projects, such as Vinh Tuy bridge – phase 2, North-South expressway, and Trung Luong – My Thuan expressway, has been also on the rise.
In the first two months, Hoa Phat’s steel sales hit 828,000 tonnes, a 2.2-fold rise from the same period last year. During the period, 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 showing many positive signs, it is expected that the group’s finished construction steel consumption will grow by over 20 percent this year./.
VNA
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