Shares rise nearly 20% from the bottom, Hoa Phat reports a 29% increase in steel consumption in Q1 to 2.38 million tons

In Q1 2025, Hoa Phat Group produced 2.66 million tons of crude steel, up 25% year-on-year. Sales reached 2.38 million tons, a 29% increase compared to Q1 2024, due to favorable weather and government investment policies. Hot rolled coil production was 993,000 tons, up 23%, and construction steel reached 1.19 million tons, up 25%. Hoa Phat also supplied 198,000 tons of billets, doubling from the same period last year. The group is pivoting towards higher quality steel products like wire rods, pre-stressed steels. The Hoa Phat Dung Quat 2 steel complex project is on schedule, expected to complete in Q4 this year. HPG shares rose 19% from the bottom, now trading at 25,350 VND.