Vietnam-based steel producer Hoa Phat Group has announced that in June this year it produced 520,000 mt of crude steel, down by 23 percent year on year. The company’s sales volume in June decreased by four percent year on year to 540,000 mt, including construction steel, steel billet and hot rolled coil. In particular, in the given month the company’s HRC production totaled 251,000 mt, the highest since November last year, up by 24 percent, while its construction steel output totaled 286,000 mt, decreasing by 18 percent, both year on year. The increased demand for steel pipe and galvanized steel contributed to a significant improvement in the output of HRC in June.
In the January-June period this year, Hoa Phat produced 2.86 million mt of crude steel, down 34 percent year on year. The company’s sales volume in the given period decreased by 27 percent year on year to 2.9 million mt, including construction steel, steel billet and hot rolled coil. In the first six months, the company’s construction steel and billet sales totaled 1.6 million mt and 36,000 mt, respectively, while its HRC sales amounted to 1.2 million mt, down by 15 percent year on year. The company’s steel pipe and galvanized steel sales in the given half totaled 325,000 mt and 175,000 mt, respectively.
