In addition, although HPG repeatedly announced a reduction in steel sales prices in the second and third quarters of 2022, the prices of raw materials such as iron ore, coke, and scrap steel have significantly decreased, especially in the second quarter, which helped to continuously improve the pre interest, tax, depreciation, and amortization profit margin, increasing from 1.9% in the fourth quarter of 2022 to 11.9% in the first quarter of 2023, and 14.9% in the second quarter of 2023. In terms of construction steel, HPG maintains a leading position in the industry with a market share of 32.5%. Driven by exports, HPG's HRC market share has increased to 38.4%. At the same time, HPG steel pipe products also have a relatively stable market leading position, with a market share of 28.1%.
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