Posted on 07 Jul 2021
The re-emergence of the Covid-19 pandemic has slowed down the growth of the Vietnamese steel industry. Hoa Phat says the company's sales of construction steel and steel pipes declined in June due to the impact of the epidemic and the rainy season compared with May, Kallanish notes.
In June 2021, Hoa Phat Group's crude steel output was 658,000 tonnes, an increase of 49% year-on-year but slightly lower than the 700,000t output in May. In the same period, steel sales fell from 695,000t in May to 569,000t in June, but still increased by 10% year-on-year.
Among them, the group's sales of hot rolled coil and construction steel reached 230,000 tonnes for each, down around 29% for construction steel but seeing a slight increase for HRC. The decline in sales of construction steel was more pronounced in Ho Chi Minh City, the steelmaker says. In addition, Hoa Phat also sold more than 41,000 tonnes of steel pipe while the remaining was galvanized sheet and billet.
In the first half of the year, Hoa Phat Group produced more than 4 million tonnes of crude steel, up 55% over the same period last year. Steel product sales reached nearly 4.3 million tonnes, increasing more than 60% from the same period last year. Construction steel sales reached 1.8 million tonnes, representing a 22 % year-on-year increase, and the amount of billet sold in both domestic and overseas markets was 608,000 tonnes.
HRC production exceeded 1.3 million tonnes over the past six months, meeting 50% of the whole year's set plan. Pipe output recorded 375,000t, up 8% from the corresponding period last year. The company's data shows that Hoa Phat's galvanized sheet output posted record growth, reaching nearly 160,000 tonnes, 2.8 times higher than the same period last year.
Source:Kallanish
