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In June, the company’s construction steel output amounted to 348,000 mt, increasing by 51 percent year on year. According to Hoa Phat, in the given months construction steel sales experienced rapid growth of 200 percent thanks to the high-demand market in the southern region and exports which increased by 60 percent. Due to the government push, the progress of public investment projects, especially key infrastructure projects including the North-South highway, consumption in the construction materials market has improved compared to the previous year, the company noted.

In June, Hoa Phat also supplied more than 64,000 mt of steel pipes and 27,000 mt of coated steel sheets for domestic and export markets. Particularly, steel pipe product sales grew by 57 percent over the same period last year. Galvanized steel sheet sales increased by 68 percent compared to May this year but decreased by 25 percent compared to June 2021.

In the second quarter, despite many complicated developments in the world raw material market due to the Russia-Ukraine conflict, Hoa Phat Group still maintained stable production, ensuring sufficient supply of goods for the market in the near future.