Vietnam-based steel producer Hoa Phat Group has announced that in October this year it produced 619,000 mt of crude steel, down by 2.5 percent month on month. The company’s sales volume in October increased by 6.5 percent month on month to 635,000 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 339,000 mt, down by 3.7 percent month on month, while its HRC sales totaled 273,000 mt, up by 16.6 percent month on month due to better demand. Hoa Phat’s galvanized steel and pipe sales in October totaled 26,000 mt and 54,000 mt, up by 25 percent and 11 percent month on month, respectively.
In addition, for the first time in many months, Hoa Phat received orders to sell steel billets to the international market.
In the January-October period this year, Hoa Phat produced 5.43 million mt of crude steel, down 18 percent year on year. The company’s sales volume in the given period decreased by 15 percent year on year to 5.25 million mt, including construction steel, steel billet and hot rolled coil. In the first 10 months, the company’s construction steel and high-quality steel sales totaled 2.9 million mt, down by 21 percent year on year. The company’s HRC, steel pipe and galvanized steel sales in the given period totaled 2.25 million mt, 543,000 mt and 266,000 mt, respectively, down by two percent, 13 percent and three percent, respectively both year on year.