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Sunday, September 25, 2022

Hoa Phat steel sales exceed 4.5 million tons in Jan-Jul

The Saigon Times

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HCMC – Local steelmaker Hoa Phat Group (HPG), which has its HPG shares listed on the Hochiminh Stock Exchange, had sold over 4.5 million tons of steel products in the year to July, up 5% year-on-year.

Of the total volume, construction steel accounted for 2.7 million tons, improving 25%, while the hot rolled coil (HRC) steel amount reached close to 1.6 million tons, up 6%.

In July, its sales of steel billet, construction steel, and HRC steel remained the same as the year-ago figure at 526,000 tons, with the construction steel amounting to 372,000 tons, up 2% year on year.

The local steel market last month continued to cope with low demand. However, HPG exported 147,000 tons of construction steel, up a staggering 81% against last year, which was the main factor helping the steelmaker maintain its sales growth.

Closing the trading session today, August 10, HPG shed 1.24% to VND23,800, amidst the downward trend on the southern market.

The benchmark VN-Index of the HCMC market lost 2.35 points, or 0.19%, over the session earlier at 1,256.5, with 210 winners and 246 losers. More than 640 million shares worth over VND14.2 trillion were traded on the southern bourse, dipping 10.9% in volume and 10.5% in value compared to the previous session. Shares traded in block deals contributed VND1.7 trillion to the overall value.

The HNX-Index on the Hanoi bourse gained 2.13 points, equivalent to 0.71% against yesterday at 303.54, with 94 stocks increasing and 89 others dropping. Trade on the Hanoi market improved 3% in volume and 20% in value versus yesterday at 101 million shares and more than VND1.9 trillion.

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