Hoa Phat Group's steel output in July reached 700,000 tonnes, up 70 percent from the same period last year.

 

Its steel sales during this period were 600,000 tonnes. Of which, construction steel was up 58 percent from previous months and 21 percent from the same period last year to 363,000 tonnes. Sales of hot-rolled coil (HRC) steel were 160,000 tonnes and the remaining was steel pipe and galvanised steel.

 

Although many localities have implemented social distancing, Hoa Phat’s construction steel still achieved a positive output. Key public investment projects such as roads, bridges, hospitals, and airports continued to be constructed. Its steel sales posted 50 percent and 21 percent year-on-year increases in the northern and the central regions respectively.

 

In the first seven months of the year, the group produced nearly 4.8 million tonnes of crude steel, up 58 percent over the corresponding period in 2020. The sales volume of steel products reached 4.9 million tonnes, representing a 64 percent year-on-year hike. In which, construction steel was 2.2 million tonnes, up 46 percent, and HRC reached nearly 1.5 million tonnes.

 

For HRC downstream products, Hoa Phat Steel Pipe Company sold 419,000 tonnes, equivalent to the same period last year. Its galvanised steel products recorded the best growth, reaching 188,000 tonnes, 2.7 times higher than in the same period last year.

 

Hoa Phat is the largest steel producer in Vietnam with a crude steel output of 8 million tonnes a year. Currently, its factories are operating as normal. Offices in Hanoi and Ho Chi Minh City have arranged to work online and at home as much as possible, strictly implementing 5K as recommended by the Ministry of Health./.

VNA