Posted on 08 Jun 2021
Vietnam's leading steel producer, Hoa Phat Group, saw strong sales growth in the first five months of this year. In order to maintain domestic supply, the producer had to restrict the export of billet, Kallanish notes.
From January to May, Hoa Phat's crude steel output was nearly 3.4 million tonnes, an increase of 56.5% year-on-year. Its steel sales increased by nearly 70% to 3.7mt. Sales of construction steel reached 1.6mt, up 27.5%. Domestic and export sales of Hoa Phat's billet reached 576,000t in total, level on the same period last year. The steelmaker supplied 1.1mt of hot rolled coil in the five months.
The above data means the steelmaker produced around 700,000t of crude steel and sold around 695,000t of steel products in May only. The May sales include 324,000t of construction steel, 225,000t of HRC, 52,000t of billet, 30,000t of galvanized steel and 63,000t of steel pipe.
SWRCH22A steel coil was researched and successfully produced by Hoa Phat Dung Quat as a substitute for imported products used in mass production of screws, the firm adds. Hoa Phat says demand for raw materials for screw production in southern Vietnam is around 30,000-40,000 t/month.
Source:Kallanish
