Vietnam-based steel producer Hoa Phat Group has announced that in February this year it produced 690,000 mt of crude steel, down by 0.4 percent month on month.
The company’s sales volume in February decreased by 19.0 percent month on month to 639,000 mt, including construction steel, steel billet and hot rolled coil. In particular, in the given month the company’s construction steel and high-quality steel sales totaled 212,000 mt, down by 42.0 percent month on month. Hoa Phat’s steel sales volume decreased mainly due to the long Lunar New Year holiday, combined with general market demand remaining weak.
The company’s hot rolled coil sales amounted to 266,000 mt in February, down three percent compared to January this year. Galvanized steel sheet sales went down by four percent month on month to around 32,000 mt, while pipe sales decreased by 15.0 percent month on month to 41,000 mt.
In the first two months of the year, Hoa Phat’s crude steel production amounted to 1.38 million mt, up by 71.0 percent compared to the same period last year. The company’s sales volume went up by 32.0 percent year on year to 1.15 million mt.
In the January-February period this year, Hoa Phat Group’s construction steel and high-quality steel sales amounted to 575,000 mt, down by 2.0 percent year on year, while its hot rolled coil sales almost doubled compared to the January-February period last year, amounting to 542,000 mt. The company’s pipe sales in the first two months went down by 17.0 percent to 88,000 mt and it sold 66,000 mt of galvanized sheet with an increase of 39.0 percent, year on year.