Vietnam-based steel producer Hoa Phat Group has announced that in May this year it produced 565,000 mt of crude steel, down by 27 percent year on year. The company’s sales volume in May decreased by 20 percent year on year to 530,000 mt, including construction steel, steel billet and hot rolled coil. In particular, in the given month the company’s HRC production totaled 243,000 mt, the highest since the beginning of the year, up by 19 percent, while its construction steel output totaled 284,000 mt, decreasing by 27 percent, both year on year.
In addition, in the given month the company’s steel pipe production was 57,000 mt, up by 12 percent year on year, and its galvanized steel production totaled 34,000 mt, double compared to May 2022.
In the January-May period this year, Hoa Phat produced 2.34 million mt of crude steel, down 36 percent year on year. The company’s sales volume in the given period decreased by 31 percent year on year to 2.36 million mt, including construction steel, steel billet and hot rolled coil. In the first five months, the company’s construction steel, HRC and billet sales in the given period totaled 1.36 million mt, 965,000 mt and 35,000 mt, while its steel pipe and galvanized steel sales came to 130,000 mt and 136,000 mt, respectively.
