Hoa Phat Group, a leading steel manufacturer in Vietnam, has reported a significant 32% increase in the sales volume of steel products during the first two months of the current year.

Throughout January and February, the company managed to sell 1.15 million tonnes of various steel products, including hot rolled steel (HRC), construction steel, high-quality steel, and steel billets. Moreover, its crude steel production reached 1.38 million tonnes during this period, marking an impressive 71% surge compared to the same timeframe last year.

However, February witnessed a notable decline in steel sales, primarily attributable to the extended Lunar New Year holiday period. Despite maintaining a steady crude steel output of 690,000 tonnes similar to that of January, Hoa Phat experienced a drop in the sales volume of various steel products.

Specifically, the sales of hot rolled steel, construction steel, high-quality steel, and steel billets amounted to 518,000 tonnes during the month, reflecting a 19% decrease compared to January figures.

Additionally, the company recorded a decline in the sales of construction steel and high-quality steel, with a 42% decrease compared to January, alongside the sale of 266,000 tonnes of HRC products, 41,000 tonnes of steel pipes, and 32,000 tonnes of galvanized steel.