Vietnam’s Hoa Phat’s steel sales up 64 percent in January-July

Wednesday, 11 August 2021 16:02:28 (GMT+3)   |   Istanbul

Vietnam-based steelmaker Hoa Phat Group has announced that its total steel sales amounted to 600,000 mt in July this year, including 363,000 mt of construction steel, 160,000 mt of hot rolled coil (HRC).

During the first seven months, the company’s sales volumes reached 4.9 million mt, up 64 percent, of which construction steel sales accounted for 2.2 million mt, up 22 percent, while hot rolled coil sales reached nearly 1.5 million mt, both year on year.

As regards downstream products, Hoa Phat Steel Pipe sold 419,000 mt in the given period, equivalent to the same period last year. Galvanized steel products sales recorded the best growth, reaching 188,000 mt, 2.7 times higher than in the first seven months of 2020.

In July this year, Hoa Phat produced 700,000 mt of crude steel, up 70 percent year on year, while the crude steel output in the January-July period was nearly 4.8 million mt, rising 58 percent compared to the same period of the previous year.

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