Vietnam: Hoa Phat’s steel sales drop 20% m-o-m in May’21

Vietnamese steel major Hoa Phat Group recorded steel sales at 695,000 t in May’21, a decrease of 20% m-o-m against 869,000 t in Apr. Exports of various steel products stood at 324,000 t in May, of which 52,000 t were steel billets. Sales of hot-rolled coils (HRC) were at 225,000 t. Hoa Phat is Vietnam’s leading steel producer with total capacity at 8 mn t per annum. The steelmaker has set a target of 2.7 mn t of HRC production in CY’21.