Posted on 11 Aug 2021
Despite many localities implementing social distancing in July due to surging Covid-19 cases, Vietnam’s Hoa Phat Group still achieved strong year-on-year growth in steel output and sales thanks to public investment projects.
Hoa Phat produced around 700,000 tonnes of crude steel in July, 70% higher than the same period last year, Kallanish notes. Sales volumes across all steel products meanwhile reached 600,000t. Construction steel achieved the highest growth rate of 58% compared to June, at 363,000t.
Total crude steel output neared 4.8 million tonnes over the first seven months of the year, up 58% year-on-year. Sales volumes accumulated to 4.9mt, an increase of 64%, of which 2.2mt and 1.5mt were construction steel and hot rolled coil respectively.
Currently, Hoa Phat’s factories are maintaining normal production and business, the company says. Offices in Hanoi and Ho Chi Minh are encouraging work online at home as much as possible.
For the full year, the company plans to produce 8mt of crude steel, and sell 5mt of construction steel and billet, 2.7mt of HRC, 920,000t of pipe and more than 300,000t of hot-dip galvanised steel.
Source:Kallanish
