Vietnam: Hoa Phat’s steel output drops 27% on monthly basis in Aug’21

Vietnamese steel major Hoa Phat Group clocked 681,000 t of crude steel output in Aug’21, lower by 27%, m-o-m. Steel sales totalled 690,000 t in Aug vis-a-vis 600,000 t in Jul. Maintaining strict compliance with Covid-19 protocols, Hoa Phat is operating blast furnaces at largely stable levels to ensure enough supply of steel products into the market. With a crude steel capacity of 8 mn t/year, the company has achieved 5.4 mn t of crude steel output so far in CY’21 (Jan-Aug’21), up 56% y-o-y.