Steelmaker Hoa Phat’s sales surge 32% in two months
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Vietnamese steel giant Hoa Phat Group saw a 32% rise in sales volume of steel products in the first two months of this year, the firm reported.
In the January-February period, Hoa Phat sold 1.15 million tonnes of hot rolled steel products (HRC), construction steel, high quality steel and steel billets. Meanwhile, the firm produced 1.38 tonnes of crude steel, an increase of 71% over the same period last year.
However, in February, the firm saw a considerable drop in steel sales volume compared to that in January, mostly due to the long Lunar New Year holiday. In the month, Hoa Phat produced 690,000 tonnes of crude steel, a similar output as January.
In the month, its sales volume of hot rolled steel products, construction steel, high quality steel and steel billets was 518,000 tonnes, down 19% compared to the first month of the year.
Meanwhile, the firm sold 212,000 tonnes of construction steel and high quality steel, down 42% compared to January, along with 266,000 tonnes of HRC products, 41,000 tonnes of steel pipes, and 32,000 tonnes of galvanized steel.
Questions & Answers
Q.What was the total sales volume for Hoa Phat's steel products in the first two months of the year?
What was the total sales volume for Hoa Phat's steel products in the first two months of the year?
In January and February combined, Hoa Phat sold 1.15 million tonnes of various steel products, including hot rolled steel, construction steel, high quality steel, and steel billets. This represented a 32% rise in sales volume.
Q.How much crude steel did Hoa Phat produce during the first two months of the year?
How much crude steel did Hoa Phat produce during the first two months of the year?
The firm produced 1.38 million tonnes of crude steel in the January-February period. This output marked a significant increase of 71% when compared to the same period in the previous year.
Q.Why did steel sales volume drop considerably in February compared to January?
Why did steel sales volume drop considerably in February compared to January?
The article states that the considerable drop in steel sales volume in February, compared to January, was mostly due to the long Lunar New Year holiday. This factor affected sales figures for the month.
Q.What was the sales volume for hot rolled steel products, construction steel, high quality steel, and steel billets in February?
What was the sales volume for hot rolled steel products, construction steel, high quality steel, and steel billets in February?
In February, the sales volume for these combined products was 518,000 tonnes. This figure represented a 19% decrease when compared to the sales volume achieved in the first month of the year.
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