Vietnam-based steel producer Hoa Phat Group has announced that in March this year it produced 440,000 mt of crude steel, up by six percent year on year. The company’s sales volume in March increased by five percent year on year to 500,000 mt, including construction steel, steel billet and hot rolled coil. In particular, in the given month the company’s HRC production totaled 210,000 mt, up by 12.9 percent month on month, while its construction steel output totaled 282,000 mt. Construction steel sales decreased by 45 percent year on year due to lower demand.
In addition, in the given month the company’s steel pipe production was 53,000 mt, down by 41 percent, and its galvanized steel production totaled 22,000 mt, down by 39 percent, both year on year.
In the January-March period this year, Hoa Phat produced 1.2 million mt of crude steel, down 42 percent year on year. In the first quarter, the company’s construction steel, HRC and billet sales in the given period totaled 869,000 mt, 482,000 mt and 26,000 mt, while its steel pipe and galvanized steel sales came to 160,000 mt and 69,000 mt, respectively.