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Hoa Phat steel sales improve in May

The Saigon Times

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HCMC – Sales of local steelmaker Hoa Phat Group’s (HPG) construction steel, hot rolled coils (HRC), and billets amounted to 530,000 tons in May, up 16% month-on-month but down 20% over the same period in 2022.

Construction steel sales improved 33% versus April but dropped 27% from the year-ago period, at 284,000 tons. The steelmaker sold 243,000 tons of HRC in the month, the highest since January and up 19% year-on-year. Exports to the European and Asian markets accounted for 55% of the total.

Sales of steel pipes in the month inched up 12% over the same period last year, at 57,000 tons, while galvanized steel sales doubled against last May to 34,000 tons.

The firm sold 2.36 million tons of steel from January to May, plummeting 31% year-on-year, including 1.36 million tons of construction steel and 965,000 tons of HRC, down 33% and 21% from the same period in 2022.

On the other hand, HPG produced 565,000 tons of crude steel in May and 2.34 million tons in the first five months of the year, down 27% and 36% year-on-year, respectively.

The HPG stock of Hoa Phat Group closed the trading session today, June 7, up 3.9% from the previous session to VND22,600 per share, extending its winning streak to the fifth straight session.

On the southern bourse, the VN-Index of the Hochiminh Stock Exchange extended its winning streak to the fifth consecutive session with a gain of 1.23 points, up 0.11% from the previous session to 1,109.54 points, with advancers outnumbering decliners by 241 to 134.

Over one trillion shares worth nearly VND18.1 trillion changed hands on the southern market, up 19% in volume and 16% in value day-on-day. Block deals contributed more than VND1.5 trillion to the overall value with over 70.3 million shares traded.

Real estate and steel stocks stole the limelight today, with many of them ending the day in the green with high trade volume.

HPG took the lead by liquidity with a matching volume of over 55.5 million shares, followed by developer NVL with nearly 53.1 million shares traded.

Among real estate and construction tickers, only 10 inched down.

PDR hit its daily upper limit, at VND15,950 per share, with around 22.3 million shares changing hands. EVG, HPX and TDH also finished the day at their upper limit, with matching volume ranging from 2.1 million to 10.1 million shares. QCG maintained its winning streak for the 10th straight session.

VPH, HBC, ITA, DRH, FCN and LDG rose over 5%. DIG, DXG, VCG and HQC gained between 1.94% and 3%, with trading volume ranging from 15.2 million shares to nearly 25 million shares.

Steelmaker POM hit the ceiling price at VND6,600 per share. HSG increased 4% to VND16,750 per share.

Many securities and bank stocks turned losers, preventing the benchmark index from rising further. VCB and BID made the main index lose nearly three points with a respective decrease of over 2% and 1%.

SHB and LPB lost 1.6% and 2.3%, respectively. SHB was the third most-traded stock today with over 40.7 million shares.

On the northern bourse, the HNX-Index of the Hanoi Stock Exchange improved 1.61 points, or 0.71%, higher than the previous day, to 230.33 points, with 114 winners and 67 losers.

There were 117 million shares worth over VND1.8 trillion changing hands on the northern market, down 22% in volume and 15% in value day-on-day.

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