Posted on 04 Nov 2020
Although the central region of Vietnam was continuously affected by storms and floods in October, Hoa Phat still saw sales growth in the north and south of the country last month.
Kallanish learns from Hoa Phat that finished steel sales in October were 383,000 tonnes, posting a 13% year-on-year increase. This includes 133,000t of billet and 250,000t of finished steel. Unfavourable weather conditions were the main reason for the slower growth in finished steel consumption compared to the previous month. However, the southern market still recorded sales of about 60,000t in October, up 25% from the same period last year.
Hoa Phat also exported nearly 62,000t of finished steel to foreign markets, 4.3 times higher than the corresponding period last year. Billet sales last month reached more than 133,000t, mainly for export.
In the first ten months of the year, Hoa Phat produced 4.6 million tonnes of crude steel, double on the same period last year. Sales reached nearly 4.14mt, of which finished construction steel was over 2.7mt, representing a 28.6% year-on-year increase. Finished steel exports reached 435,000t, more than double the corresponding period last year. Sales of square billet were 1.4mt.
Although production is still growing, floods have hit the Dung Quat plant in Hoa Phat. One of the raw materials areas of the plant collapsed on 28 October due to flooding, killing three workers.
Source:Kallanish
