Hoa Phat Report 600KT Steel Sales in July 2021
Steel output of Vietnamese Hoa Phat Group in July 2021 reached 700,000 tonnes, increasing 70 per cent from the same period last year. Its steel sales in the period were 600,000 tonnes. Of which, construction steel sale was up 58 per cent from the previous months and 21 per cent from the same period last year to 363,000 tonnes. That of hot rolled coil steel was 160,000 tonnes and the remaining was steel pipe and galvanized steel. Although many localities have implemented social distancing, Hòa Phát’s construction steel still achieved a positive output. Key public investment projects such as roads, bridges, hospitals, and airports continued to be constructed. Its steel sales posted 50 per cent and 21 per cent year-on-year increases in the North and the Central regions respectively.
In the first seven months of the year, the group produced nearly 4.8 million tonnes of crude steel, up 58 per cent over the corresponding period in 2020. Sales volume of steel products reached 4.9 million tonnes, representing 64 per cent year-on-year hike. In which, construction steel was 2.2 million tonnes, up 22 per cent, hot rolled coil reached nearly 1.5 million tonnes. For HRC downstream products, Hòa Phát Steel Pipe Company has sold 419,000 tonnes, equivalent to the same period last year. Its galvanized steel products recorded the best growth, reaching 188,000 tonnes, 2.7 times higher than in the same period last year.