Vietnam’s leading steelmaker Hoa Phat Group has produced 384,000 tonnes of crude steel in November 2022, down 43% YoY sales of steel products reached 443,000 tonnes, a drop of 30% YoYConstruction Steel Production - 252,000 tonnes, down 7% YoYHot Rolled Coils - 180,000 tonnes, down 12% YoYSteel Pipes – 53,000 tonnesGalvanized Sheet - 22,800 tonnesHoa Phat said “There has been no improvement in the demand for steel products in general in the domestic and foreign markets. This is the main reason for total consumption dropping to the lowest level since the beginning of the year. While domestic consumption of construction steel has seen a slight recovery compared to the previous month, exports have seen a decrease of more than 70% over the same period.Accumulated in 11 months, Hoa Phat Group produced 7 million tonnes of crude steel, down 6% YoY. Consumption of construction steel, billet, and HRC reached more than 6.6 million tonnes, a decrease of 6% YoY, mainly because there were no export orders for billet as last year. As compared to the same period last year, construction steel accounted for 3.9 million tonnes, an increase of 11% YoY, and HRC nearly 2.5 million tonnes, an increase of 6%. Over 11 months, Hoa Phat steel pipe sold 688,000 tonnes, up 11% YoY & 300,000 tonnes of galvanized steel products, down 20% YoY
Vietnam’s leading steelmaker Hoa Phat Group has produced 384,000 tonnes of crude steel in November 2022, down 43% YoY sales of steel products reached 443,000 tonnes, a drop of 30% YoYConstruction Steel Production - 252,000 tonnes, down 7% YoYHot Rolled Coils - 180,000 tonnes, down 12% YoYSteel Pipes – 53,000 tonnesGalvanized Sheet - 22,800 tonnesHoa Phat said “There has been no improvement in the demand for steel products in general in the domestic and foreign markets. This is the main reason for total consumption dropping to the lowest level since the beginning of the year. While domestic consumption of construction steel has seen a slight recovery compared to the previous month, exports have seen a decrease of more than 70% over the same period.Accumulated in 11 months, Hoa Phat Group produced 7 million tonnes of crude steel, down 6% YoY. Consumption of construction steel, billet, and HRC reached more than 6.6 million tonnes, a decrease of 6% YoY, mainly because there were no export orders for billet as last year. As compared to the same period last year, construction steel accounted for 3.9 million tonnes, an increase of 11% YoY, and HRC nearly 2.5 million tonnes, an increase of 6%. Over 11 months, Hoa Phat steel pipe sold 688,000 tonnes, up 11% YoY & 300,000 tonnes of galvanized steel products, down 20% YoY
