Vietnam-based steel producer Hoa Phat Group has announced that it has produced 737,000 mt of crude steel, up slightly year on year, while sales of steel products including construction steel, hot rolled coil (HRC) and billet reached nearly 600,000 mt, 256,000 mt of which is hot rolled coils, posting a 20 percent increase compared to April 2021. In the given month, the company’s construction steel sales amounted to nearly 300,000 mt, down 30 percent year on year as traders still had inventories from the previous month. However, the construction steel export volume still increased by 28 percent compared to April 2021 to 93,000 mt. Sales of downstream steel products such as steel pipes totaled 44,000 mt, with galvanized steel sales reaching 31,000 mt, up 60 percent year on year, mainly thanks to export activities.
In the January-April period, Hoa Phat Group produced 2.9 million mt of crude steel, up seven percent over the same period last year. Sales volumes of billet, construction steel, hot rolled coil reached nearly 2.8 million mt. Construction steel reached 1.6 million mt, up 28 percent, while hot rolled coil reached 1 million mt, up 16 percent, both over the same period last year. In addition, Hoa Phat also supplied over 250,000 mt of steel pipes and 136,000 mt of coated steel sheets to the market. In particular, galvanized steel achieved an increase of 47 percent compared to the first four months of 2021.