Posted on 21 Sep 2021
Vietnam's leading steelmaker, Hoa Phat, saw its construction steel market share increase to 37% in the first eight months in 2021, up from 28% at the beginning of the year, Kallanish notes.
Although Hoa Phat's construction steel sales were down by 17% on-year in August alone to 268,000 tonnes, January-August sales increased by 16% on-year to nearly 2.5 million tonnes.
Hoa Phat says 713,000t of construction steel were produced by Vietnam Steel Association member companies in August, a decline due to social distancing measures. Total sales meanwhile declined by around 40% to 560,000t.
Hoa Phat adds that VSA statistics show current crude steel production capacity in Vietnam is about 24m t/year. It estimates that crude steel output in 2021 will reach about 21.2mt. In the first eight months of this year, Vietnam's crude steel output exceeded 13mt, a year-on-year increase of 23%.
Source:Kallanish
