Vietnam-based steelmaker Hoa Phat Group has continued to increase billet exports, which became even more important for the producer in April with local steel consumption in Vietnam being under pressure. Hoa Phat Group’s billet exports surged by 35 percent or about 50,000 mt to 183,000 mt in April this year compared to March. The main sales destinations were China, the Philippines and Thailand.
As a result, total billet sales for both domestic and export markets reached over 530,000 mt for the first four months of the year.
At the same time, though total construction steel output of the group in April was still 13.8 percent higher year on year, it posted about a 30 percent decline compared to March to 270,000 mt due to restrictions on construction activities in response to the spread of Covid-19. Exports of finished steel totaled 20,000 mt, up 17 percent year on year, but much lower than 68,000 mt in March. Sales were mostly to Japan, Canada, Malaysia, Indonesia and Taiwan.
