Hoa Phat’s Steel Sale in Jan-May 2021 up by 57% YoY
Vietnamese steel maker Hoa Phat Group achieved a steel sale of 695,000 tonnes in May 2021, comprising of 324,000 tonnes of construction steel up 5% YoY & 225,000 tonnes of hot rolled coils. In the export market, Hoa Phat construction steel continued to achieve high output with 70,000 tonnes. Hoa Phat has limited the export of square billets to increase the product supply to the domestic market. The export volume of billet in May was 52,000 tonnes. Hoa Phat Group sold 30,000 tonnes of galvanized steel in May, increasing 2.8 times higher than the same period last year. Of which, the exports of galvanized steel reached nearly 20,000 tonnes, accounting for 65% of the total sale volume. Also in May, the sale of steel pipe reached 63,000 tonnes, reducing 10 per cent from the corresponding period last year due to affects from the COVID-19 pandemic.
In the first five months of the year, Hoa Phat Group produced nearly 3.4 million tonnes of crude steel, representing 56.5% YoY increase. The steel sales were 3.7 million tonnes including steel billet, construction steel, hot rolled coil, steel sheet and steel pipe, increasing 70% from the same period last year. Of which, the construction steel sale was 1.6 million tonnes, up 27.5%. The sale of square steel billets, in both domestic and foreign markets, was the same to may last year to reach 576,000 tonnes. Hoa Phat Group provided 1.1 million tonnes of hot rolled coil steel to the local market in the January-May period. HRC's downstream products such as steel pipes and galvanized sheet recorded high growth, reaching 334,000 tonnes and 123,000 tonnes respectively, up 21% and 270% over the same period.
Hoa Phat Group has been the largest steel producer in Vietnam with a scale of 8 million tonnes a year. The group targets an output of five million tonnes of finished construction steel and steel billet; 2.7 million tonnes of HRC; 920,000 tonnes of steel pipes and over 300,000 tonnes of galvanized steel in 2021.