Vietnam’s Hoa Phat’s steel sales reach 4.5 million mt in Jan-July

Monday, 08 August 2022 11:29:56 (GMT+3)   |   Istanbul
       

Vietnam-based steel producer Hoa Phat Group has announced that it produced 4.9 million mt of crude steel in the first seven months of this year, up by five percent year on year, while its sales of steel products including construction steel, hot rolled coil (HRC) and billet reached 4.5 million mt, up by five percent compared to the same period last year. In particular, construction steel sales increased by 25 percent to 2.7 million mt, while HRC sales increased by six percent to 1.6 million mt, both compared to the same period of 2021. The company also sold 437,000 mt of pipes and 198,000 mt of galvanized steel in the given period, posting a slight increase year on year.

In July, the sales volume of billet products, construction steel, HRC totaled 526,000 mt, remaining stable compared to the same month of the previous year, while the company’s construction steel sales amounted to 372,000 mt, increasing by two percent year on year. According to Hoa Phat, in the given month the domestic steel market continued to face difficulties due to weak demand and the beginning of the rainy season. Hoa Phat exported 147,000 mt of construction steel in July, up 81 percent year on year, helping to maintain the rising trend of its sales volume.

In the same month, the company’s HRC sales decreased by five percent to 150,000 mt, while its galvanized sheet sales amounted to 78,000 mt, and its pipe sales stood at 60,000 mt, up by 38 percent year on year.


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