Vietnam’s Hoa Phat’s steel sales nearly up 70 percent in January-May

Monday, 07 June 2021 12:09:24 (GMT+3)   |   Istanbul
       

Vietnam-based steelmaker Hoa Phat Group has announced that its total steel sales reached 695,000 mt in May this year, including 324,000 mt of construction steel and 225,000 mt of hot rolled coil (HRC).

In May, Hoa Phat’s galvanized steel production totaled 30,000 mt, up by 2.8 times over the same period last year, with the export volume of galvanized steel reaching nearly 20,000 mt, accounting for 65 percent of the product’s sales volume. In the given month, the company produced nearly 63,000 mt of steel pipes, down by 10 percent year on year amid the pandemic. In the given month, Hoa Phat restricted the export of square billets to strengthen the supply of products to the local market, with the export volume of billet totaling 52,000 mt.

In the January-May period this year, Hoa Phat produced nearly 3.4 million mt of crude steel, up by 56.5 percent compared to the same period last year. In the given period, the company’s total steel sales amounted to 3.7 million mt, increasing by almost 70 percent year on year, of which construction steel sales reached 1.6 million mt, up by 27.5 percent year on year. The company’s square billet sales amounted to 576,000 mt.

In the first five months this year, the company’s HRC sales to the local market totaled 1.1 million mt, while steel pipe and galvanized steel sales reached 334,000 mt and 123,000 mt, respectively, increasing by 21 percent and 270 percent, both year on year.

Meanwhile, in 2021, Hoa Phat Group aims to produce 2.7 million mt of hot rolled coil, 920,000 mt of steel pipe, 300,000 mt of galvanized steel and five million mt of construction steel and billet. 


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