Vietnam-based steel producer Hoa Phat Group has announced that it produced 384,000 mt of crude steel in November this year, decreasing by 43 percent year on year, while its sales of steel products including construction steel, hot rolled coil (HRC) and billet came to 443,000 mt, down by 30 percent compared to the same month last year. In particular, construction steel sales increased by 20 percent to 252,000 mt, while HRC sales totaled 180,000 mt, decreasing by 12 percent year on year. The company also sold 52,000 mt of pipes and 21,800 mt of galvanized steel in November. Hoa Phat’s production and sales volume decreased due to weak demand in the domestic and foreign markets.
In the January-November period this year, the company produced seven million mt of crude steel, down by six percent, while its steel sales totaled 6.6 million mt, decreasing by six percent, both year on year. In particular, Hoa Phat’s construction steel sales increased by 11 percent to 3.9 million mt, while its HRC sales totaled 2.5 million mt, increasing by six percent, both year on year. In the first 11 months, the company sold 688,000 mt of pipes and 300,000 mt of galvanized steel, up by 11 percent and down by 20 percent, respectively, both year on year.
