Vietnam: Hoa Phat’s steel sales, production rise, m-o-m, in May

Monthly steel sales by Vietnamese integrated steel major Hoa Phat increased by 10% in May’22 to 660,000 t as against 600,000 t in Apr. The rise in sales was backed by higher preference for domestically produced steel over imports. Meanwhile, the company’s crude steel production rose 5.8% to 780,000 t in May from 740,000 t in Apr. In Jan-May’22, sales stood at 3.4 mnt, while crude steel output stood at 3.6 mnt.