Vietnam’s leading steelmaker Hoa Phat Group has sold about 258,500 MT of construction steel in May’20, an increase of 14.3% over the same period last year (i.e. May’19). The company witnessed a sudden growth in its construction steel sales in the Southern market with about 80,650 MT being sold, which is nearly three times of steel sold in this area in May’19.
This sharp growth in steel sales is attributed to the Hoa Phat’s Dung Quat Iron and Steel Complex. With a capacity of 2 MnT construction steel per year, Phase 1 of Hoa Phat Dung Quat, despite being in the process of trial operations, has shown a better performance.
Accumulated construction steel supply by Hoa Phat to domestic and foreign markets totaled 1.26 MnT, a slight increase compared to the same period last year. Particularly, the Southern region nearly doubled with 292,000 MT.
Finished steel exports in the five months of CY’20 (Jan-May’20) reached 160,000 MT, an increase of more than 50% compared to Jan-May’19. Export markets of finished steel products include Japan, Australia, Canada, Thailand, Cambodia, Malaysia etc.
The company’s steel billet exports in Jan-May’20 increased sharply with 596,000 MT being exported to China, Taiwan, Indonesia, Malaysia, Thailand, Sri Lanka and Philippines etc.
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