Vietnam-based steelmaker Hoa Phat Group has indicated that it managed to increase its local and export sales sharply in March despite the global Covid-19 epidemic. Its billet exports reached a new monthly record of 135,000 mt in March, versus 100,000 mt in February. As a result, Hoa Phat exported more than 295,000 mt of billets in the first quarter of 2020, becoming one of the big sellers in the Asian market.
In March, Hoa Phat’s total construction steel sales reached 351,000 mt, up by 42.2 percent compared to the same period last year and up 70.8 percent from February. The increase was registered in all regions in the local market in Vietnam, with sales growth in the south being still the most rapid (up by 89.7 percent year on year). According to the company’s report, steel sales reached a record high in March owing to the strong demand from the civil construction industry in its high season.
Moreover, finished steel exports of Hoa Phat rose to 68,000 mt in March, being exported to Japan, Cambodia, Australia, Indonesia and Malaysia. The export volume was much higher than 40,000 mt in February and exceeded the export quantity of March 2019 by 2.5 times.
Hoa Phat Group has been implementing all necessary measures at its production facilities to contain the spread of Covid-19 to ensure a stable supply.